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March 20, 2022

Webinar – Hvorfor bør du interessere dig for eksportkontrol & sanktions compliance?

On June 9, 2023, Lars Brodersen, a lawyer at TradeCompliance.dk, held a webinar on export control and compliance with sanctions regulations.
The webinar presented valuable knowledge and practical tools to ensure companies comply with export control regulations and compliance with sanctions policies.
Lars Brodersen has worked in this field for almost 15 years and is an expert in the field. He specializes in advising on export control and sanctions regulations, helping companies of various sizes and industries – from small companies with three employees to large C25 companies.
Geopolitical events and their impact on sanctions:
Sanctions are closely linked to geopolitics. Here are the primary actors that have had an impact on sanctions:
  • The Ukraine conflict and Russia’s invasion of Ukraine in February 2022 are pivotal events that have led to extensive sanctions programs. 10 sanctions packages targeting Russia have been implemented over the course of the process.
  • Iran has also been affected by sanctions, especially after the US withdrew from the nuclear deal in 2016, as well as their supply of weapons and drones to Russia.
  • Aleksandr Lukashenko of Belarus and Kim Jong-un of North Korea are also important players in geopolitics and are subject to extensive sanctions.
Possible consequences of violating sanctions:
  • Significant fines, legal fees, and other indirect costs as well as disruption.
  • Prison.
  • Blacklisting.
  • Reputational damage / CSR / Adverse media.
  • Stoppage of shipments. Loss of export privileges.
  • Not considered a trustworthy partner.
  • Possible lawsuits from dissatisfied shareholders.
  • Breach of loan agreements.
  • License to operate threatened or impaired.
5 things you and your company should be aware of when it comes to export controls and sanctions: 
  1. WHAT you sell/export/work with (Military list, Dual-Use, Sanctions)
  2. WHAT use should the product be used for (End use)
  3. WHERE do you do business (The Market)
  4. WHO do you do business with (customers – direct and indirect)
  5. FROM WHERE   (a) the product is shipped, (b) the product originates and or (c) the partners involved. 
Determine your risk profile based on the results of this assessment.
In short: Keep track of WHAT you trade with and WHO you trade with. 
What is an export?
  • Delivery or transfer of items (goods, software, or technology) to another country.
  • Please note that this applies regardless of whether it occurs between employees simply across national borders.
  • There is no need to post a sale.
  • Shipping can be done via carrier, hand-carried by yourself, via email, Teams, Skype or similar.
Suspected violation of exposure control and sanctions?
  • If a transaction is in progress, put it on hold until the situation is clear.
  • Seek assistance from a HPS advisor with knowledge of the area before involving authorities. It is very important that the matter is handled correctly from the start.
What can you do?
  • Consider the relevance of export controls and sanctions in your work.
  • Ask in your organization where responsibility is anchored.
  • Ask if a risk assessment has been made regarding WHAT, WHICH, WHERE, WHO & FROM WHERE.
  • Make sure you have the necessary documentation.
  • Try to work proactively (at the forefront) and not reactively (firefighting)
The starting shot for ESG reporting: 
  • Sustainability in the annual report is regulated in Section 99 a of the Danish Financial Statements Act.
  • Large companies in accounting class C and companies in accounting class D must report on their work with social responsibility.
  • Duty to publish a corporate social responsibility statement.
  • Corporate social responsibility policies.
  • Mandatory information.
  • Many companies choose to prepare actual ESG reports.
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