Guide

The Enterprise Europe Network informs:
09/14/2023

The EU Commission has published a guide for European businesses on how to identify, assess and understand risks of sanctions evasion among their business partners-and how to avoid these risks. This guide provides a general overview of what EU operators need to do to comply with the due diligence obligations required by EU law.

It describes the sequential steps that EU companies need to apply when conducting strategic risk assessments. This is intended to reduce the risk of evading sanctions as much as possible. It also sets out guidelines for companies most exposed to these risks on how to implement enhanced due diligence. These also include best practices for assessing business partners, transactions and goods.

Finally, the guidance includes a list of "red flags," warning signs of circumvention. They relate to business partners and customers and are indicators designed to alert EU businesses to potential risks when entering into a business relationship with a new trading partner.

To access the guide, here . https://digital-strategy.ec.europa.eu/de/activities/digital-programmehttps://germany.representation.ec.europa.eu/news/eu-uk-politische-einigung-uber-beteiligung-horizont-europa-und-copernicus-2023-09-07_de

Source: European Commission