The European Commission has launched a new EU sanctions helpdesk to support small and medium-sized enterprises (SMEs) in understanding and adhering to the 40 global sanction regimes currently in force.
This free service is designed to assist businesses in navigating intricate trade restrictions, ensuring they do not miss legitimate opportunities due to uncertainties about their legal implications. A specialized website will offer a range of sanctions-related resources, including country-specific guidance and educational materials.
Although larger corporations often have access to compliance assistance, SMEs frequently lack the necessary resources to manage regulatory complexities. To bridge this gap, the helpdesk will work in partnership with public authorities, financial institutions, business support organizations, and international compliance bodies to offer tailored guidance.
Maria Luís Albuquerque, the EU Commissioner for Financial Services and the Savings and Investments Union, emphasized the significance of this initiative, stating that sanctions serve as crucial instruments in addressing global conflicts and crises. She acknowledged that as the scope of sanctions expands, SMEs face increasing difficulties in conducting independent due diligence.
“With its comprehensive resources, events, and compliance support services, this centralized platform will equip SMEs with the necessary tools to navigate sanctions requirements effectively,” she said.
As international regulations continue to evolve, the helpdesk seeks to help European businesses remain compliant while adapting to the shifting global trade landscape.
Arabic
Dutch
English
French
German
Italian
Portuguese
Spanish