Further to our news item of 2 March concerning the re-publishing of the ICC’s guidelines on sanction clauses, please find below the latest from ICC including access to the ICC Academy e-training course ‘Introduction to Trade Finance Compliance’ until 31 March and the establishment of a dedicated email address for enquiries relating to sanction compliance and any border disruptions arising from the Russia/Ukraine conflict.
In light of the escalation of sanctions on Russia, we have taken the decision to make available the ICC Academy e-training course “introduction to trade finance compliance” free of charge until 31 March 2022. We hope that this will be particularly helpful to small and medium-sized companies and banks in navigating the new regulatory environment for cross-border trade.
This follows our previous correspondence reminding the market on established best practices on use of sanctions clauses in documentary trade transactions.
Further queries from members
In addition, we have taken the decision to establish a dedicated "helpdesk" email to receive any queries from ICC members arising from sanctions compliance and/or border disruptions to trade arising from the Russia-Ukraine conflict.
Please send any questions or queries to firstname.lastname@example.org. As you will appreciate, we may not be able to respond to each individual query directly -- but please be assured that we will take all issued raised into careful consideration in making interventions to support the market.
On a related note, the ICC Banking Commission is following closely any repercussions linked to the Ukraine conflict and we stand ready to act, as appropriate, in providing further guidance and tools to facilitate legitimate trade.