News / Forwarders warned: keep up with US regulations or pay the penalty

© Olivier Le Queinec

As tension mounts between the US, Russia and Ukraine, forwarders must understand export regulations and US restrictions, or face significant penalties.

Last month, the US published its latest “Entity”, and “Specially Designated Nationals” (SDN) lists, which reflects its growing unease at Russia’s involvement in Ukraine.

The latest SDN list includes several forwarders, including the Sovfracht-Sovmortrans group of companies, as well as shipyards in Ukraine and electronics companies in China.

Once a company is on the SDN list, its assets, and those of some individuals, are ...