Sanctions and Embargoes: EU Helpdesk for SMEs

Economic embargoes or sanctions can be imposed on countries, companies, organizations, individuals, as well as specific economic sectors.

To make it easier for businesses to comply with these regulations, the European Commission has set up a Sanctions Helpdesk for small and medium-sized enterprises (SMEs).

Here, companies can receive support in clarifying EU sanction regulations, conducting sanctions due diligence, and developing compliance programs. For this purpose, the Helpdesk reviews the following information:

• the parties involved (Who),

• the traded goods or services (What),

• the affected locations and jurisdictions (Where), as well as the intended end use and end user (Why).

  
  

SMEs are advised on potential risks; however, the Sanctions Helpdesk does not assume any liability.

Interactive World Map

The EU Sanctions Map provides information on which trading partners of the European Union are subject to restrictive measures. Companies can search not only by country but also specifically by the names of companies or individuals.

National Implementation of Sanctions

In Austria, the Federal Ministry of Finance (BMF), in agreement with the Federal Ministry for European and International Affairs (BMEIA) and the Federal Ministry of the Interior (BMI), may, in order to fulfill legally binding sanctions imposed by the United Nations or the European Union, adopt measures by regulation or decree.

These measures can include freezing of assets, confiscation of vehicles or goods, or prohibiting the provision of services to natural or legal persons for the purpose of conducting business activities in a specific country.

Detailed information on sanctions measures can be found here (in German):

EU-Sanction - National Authorities (BMEIA)

Embargoes and Sanctions (BMWET)

Financial Sanctions (Österreichische Nationalbank)

If you have any questions, our experts Irene Grass and Martin Schmidt will be happy to assist you.

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