Posted on June 15, 2023
In a recent post by Ami Daniel CEO of Windward.ai he explained why he thought the proposed 11th package of EU sanctions was a game changer for maritime compliance, and we agree.
This follows the 20+ year trend of the United States increasing their use of sanctions as a foreign policy tool and/or military responses.
The number of US government sanction designations grew from 912 to 9,421, skyrocketing by 933%, in the two decades from 2000 to 2021, according to economist Timothy Taylor’s review of OFAC data.
🔎 ⚠️ So how might this effect Maritime Compliance teams?
Increased complexity 😓🔍: The proposed sanctions package will introduce additional measures related to ship-to-ship transfers and vessels going dark. Maritime compliance teams will face the challenge of detecting and preventing illicit activities without sophisticated technology to automatically identify such behavior in real-time.
Compliance technology demand 🚢💻: The need for advanced compliance technology will surge as maritime organizations strive to meet the requirements of the sanctions package. Compliance teams will require robust systems capable of detecting dark activity and complex GNSS manipulations, minimizing false positives, and ensuring adherence to sanctions.
Criminalization of sanctions ⚖️🚢: As sanctions in Europe become increasingly criminalized, maritime compliance teams may face the responsibility of monitoring and enforcing sanctions alongside law enforcement and customs agencies. They will continue to need to identify violations and prevent designations, balancing the need for robust enforcement with the avoidance of significant economic disruptions.
Enhanced tracking and understanding 📈🌍: The sanctions package will expand the list of prohibited items for export to Russia, necessitating improved vessel tracking and a deeper understanding of transshipments.
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