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IN THIS AGE OF RUSSIA SANCTIONS, U.S. IMPORTERS CAN’T IGNORE THE RISKS OF CUSTOMS COMPLIANCE

In response to Russia’s invasion of Ukraine, countries around the world – including historically neutral states like Switzerland – have imposed restrictive sanctions on doing business with Russia. Importers and exporters still reeling from global supply chain challenges brought on by the COVID-19 pandemic are especially hard hit by these sanctions, which target trade and trade finance, banking, and transport activities, among other areas.

Should Russia continue its military action in Ukraine, the coming days and weeks could see current restrictions expanded to cover other countries that may be aiding Russia, either willingly or by force. Read more…