News

Western nations' efforts to deprive Russia of weapons and other technologies with military applications amid the war in Ukraine have heaped unprecedented pressure on banks' compliance departments to monitor transactions for evasion of commercial export controls. Since Moscow launched its full-scale invasion of Ukraine 19 months ago, the U.S. and its allies have, for the first time ever, imposed sweeping trade restrictions on a major, globally connected economy—in addition to naming an unprecedented number of mostly Russian individuals and entities on sanctions lists. Expectations that lenders closely monitor their customers' activities for sales of restricted goods and technologies are likely...