Siemens execs to face trial for breaching Russia sanctions. Read our blog for background, downloads and details!
A significant sanctions compliance case is developing in Germany, where two ex-Siemens executives are facing trial for allegedly violating EU and U.S. export control laws. The case centers on claims of illegally exporting Siemens gas turbines to Crimea, which is under Russian occupation, contravening stringent sanctions enforced following Russia's annexation of the region in 2014.
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Key Questions Covered in This Blog
What are the details of the Siemens sanctions violation case?
Why are EU and U.S. sanctions in place against Crimea?
What are the legal consequences of breaching export control laws?
How can businesses ensure compliance with sanctions regulations?
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Link to the news: Exclusive: Two ex-Siemens execs to be tried in Germany over Russia sanctions violations.
Sanctions Compliance Checklist: Ensure your business is compliant with EU and U.S. regulations.
"Sanctions compliance is not optional—it is a fundamental responsibility of all businesses engaged in international trade."– Arne Mielken, Managing Director, Customs Manager
Abbreviations Used In This Blog
EU – European Union
U.S. – United States
OFAC – Office of Foreign Assets Control
ITAR – International Traffic in Arms Regulations
EAR – Export Administration Regulations
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