Impact of US export regulations in Europe
The rules and regulations of the United States in the sanctions and export space are not only more complex than elsewhere, but they are also much more far reaching.
Almost uniquely, the US regulations have an ‘extra-territorial’ reach which means that for many companies who trade internationally they are likely to be impacted at some point.
The United States implement international trade compliance regulations through several different government organisations.
Interpreting the Regulations
Understanding the difference between the authority of the Treasury department’s OFAC, the Department of State, or the Department of Commerce can be confusing.
How do the different requirements affect you if you are operating elsewhere in the world?
Who do you go to for a licence if you think that US regulations apply to your goods, or you are wanting to trade with a country subject to US sanctions?
Common
Questions
There are many questions that you may have if you have any kind of US connection. Do you use US based suppliers?
Are any materials or components used in the manufacture of your products of US origin? Does your business rely on US technology in any form?
Are your products or services already used in countries that may be the subject of US sanctions or embargoes?
We have experience working with and for companies in the United States, US subsidiaries based in Europe, as well as for European companies trading with the US and elsewhere.
Based on that experience, and if any of the above apply to you and you are not sure of where you stand, it could be prudent to contact us and seek clarification before it’s too late.
MJ Trade Advisory can provide an analysis of your risk and exposure to the US regulations, provide guidance as to the steps you need to take in order to eliminate your risk and, if required, define appropriate policy and procedure for you to plot the right way forward.
Other Areas Of Expertise
Export classification
Export classification is the bedrock of having confidence in compliant exporting
Training
Are you looking for cost effective ways to keep your team up to date with the latest regulations
SanctionS & Embargoes
Sanctions and embargoes are currently in place against more than 30 countries around the world.
Risk assessments
Having a good export compliance programme will mean you have addressed all aspects of an export from start to finish
Due Diligence
Conducting effective due diligence and RPS requires making a judgement about what is most effective
Investigations
How do you react when you think there may have been a non-compliant event in the course of your business?
