Sanctions practice
Support for business on sanctions matters: screening counterparties and beneficiaries against the lists of the National Security and Defence Council, OFAC, the EU and the United Kingdom, assessing the risk of specific transactions and payments, internal sanctions policies and contractual clauses, challenging decisions of the National Security and Defence Council, delisting applications and defence in High Anti-Corruption Court cases on the recovery of assets to the state.
Screening counterparties against sanctions lists
Screening business partners, their beneficiaries and related persons against the lists of the National Security and Defence Council, OFAC (SDN), the EU and the UK: identifying direct and indirect (the 50% rule) sanctions links.
Sanctions legislation long ago ceased to be a question of international politics alone. For a modern business, sanctions risks can mean frozen assets, the termination of banking services, the cancellation of international contracts, the loss of investors and restricted access to foreign markets.
The PROCTOR team treats sanctions compliance as a system for managing the strategic risks of the company. We analyse the ownership structure, international links, supply chains, sources of financing, counterparties, ultimate beneficial owners, corporate changes and any potential factors that could become grounds for the imposition of sanctions.
We create internal control mechanisms that make it possible to identify sanctions risks in good time, to limit their impact and to keep the international operations of the company stable even as sanctions legislation is constantly updated.
Assessing the sanctions risk of transactions
Analysing specific operations - supplies, payments, investments - for breaches of sanctions regimes, in particular the secondary sanctions of the United States. Opinions for banks and partners.
Challenging inclusion in sanctions lists
Court challenges in Ukrainian courts to decisions of the National Security and Defence Council imposing sanctions, and to decisions of foreign authorities in the relevant jurisdictions.
Removal from sanctions lists (delisting)
Preparing and supporting applications for removal from the sanctions lists of Ukraine, the EU and the United States: the evidence base, communication with the competent authorities, the strategy of the delisting campaign.
Compliance policies on sanctions
Implementing internal sanctions policies and procedures: screening within business processes, sanctions clauses in contracts, staff training, an action plan where a match is found.
Defence in cases on the recovery of assets to the state
Representation in High Anti-Corruption Court cases on the application of the sanction of recovering assets to the state: protecting the owners of assets and persons whose assets are wrongly linked to sanctioned individuals.
How we handle a sanctions matter
From screening against the lists to a challenge to a decision of the National Security and Defence Council or a delisting.
01
Screening against the lists
We check the company, its beneficiaries and its counterparties against the lists of the National Security and Defence Council, OFAC, the EU and the United Kingdom, indirect ownership included.
02
Risk of the transaction
We take a specific deal or payment apart: jurisdictions, intermediary banks, the goods and the end recipient. You get an opinion on whether it can go ahead and on what terms.
03
Clauses and internal policy
We prepare an internal policy and contractual clauses: the duty of the counterparty to disclose its ownership, the right to suspend performance and the grounds for termination.
04
Challenging the decision
We prepare a claim against the decree applying the sanctions: no grounds for it, an error in identifying the person, or restrictions out of proportion to their purpose.
05
Removal from the list (delisting)
We assemble the evidence file and the application for removal: links with sanctioned persons ended, ownership restructured, the good faith of the business confirmed.
06
Defence in asset recovery cases
Representation in High Anti-Corruption Court cases on the recovery of assets to the state: work with the claim of the Ministry of Justice, the evidence of links with the aggressor state and the property of the client.
Formats of sanctions support
The format is chosen by whether a one-off check is needed, or the company works under constant sanctions risk.
Check of one counterparty
Screening of a single company or person against the sanctions lists together with an analysis of the ownership structure. You receive a written opinion on the risk of working with them.
Sanctions compliance for the company
A policy, contractual clauses, a counterparty screening procedure and training for the officers responsible. The screening function starts working inside the company itself.
Running a sanctions case
Full support of the dispute: the challenge to the Council decision, the delisting application, defence in the asset recovery case and communication with authorities and foreign regulators.
