International Sanctions and Logistics

In this episode, Gediminas Daukša and Karina Gedeukaita discuss the impact of international sanctions on logistics companies. They highlight a recent case in Lithuania where a company was fined 13 million euros for violating sanctions. They explain that fines are based on factors such as turnover and the value of goods or services. The conversation explores the challenges faced by logistics companies in complying with sanctions and provides practical tips for mitigating risks. The key takeaways include the importance of checking sanctions databases, conducting due diligence on customers and partners, and maintaining evidence of compliance efforts.

Takeaways

• Logistics companies can face significant fines for violating international sanctions.
• Fines are calculated based on factors such as turnover and the value of goods or services.
• Complying with sanctions is challenging for logistics companies due to the involvement of multiple parties.
• To mitigate risks, companies should check sanctions databases, conduct due diligence on customers and partners, and maintain evidence of compliance efforts.

Links to sources:

• https://www.vz.lt/transportas-logistika/2024/08/07/lietuviskai-transporto-priemones-eksportuojanciai-imonei-uz-sankciju-pazeidima-skirta-136-mln-eur-bauda
• https://www.vz.lt/verslo-aplinka/2024/08/13/fntt-tyrime-del-kontrabandos-i-rusija--itarimai-7-asmenims-ir-4-imonems

Chapters

• 2:41 Calculating Sanction Fines
• 5:33 Challenges in Compliance
• 9:12 Mitigating Risks and Practical Tips