The Role of Third-Country Jurisdictions in Sanctions Evasion and Avoidance (SEA)
31/10/2023
Sanctions are an important tool for exerting influence internationally yet understanding of the impact of SANCTIONS EVASION OR AVOIDANCE (SEA) and third-country involvement remains limited.
In this study, third countries are defined as distinct from ‘senders’ and ‘targets’ of sanctions regimes and aims to shed light on their role in SEA.
The report examines thirteen third countries involved in SEA relating to sanctions imposed on Russia since the Ukraine invasion.
- X13 = Armenia, Cyprus, Czechia, Georgia, Indonesia, Kazakhstan, Malta, Saudi Arabia, Serbia, South Africa, Spain, Türkiye and the UAE
It draws from literature, data analysis of media reports, blogs, forums and other open-source information as well as trade and shipping data, spanning from February 2022 to February 2023.
The research highlights the correlation between a third country’s support for or opposition to sanctions and the extent of its geopolitical alignment with senders or targets. It finds that SEA is more likely when a third country is economically reliant on the target country, has interests in engaging in SEA and has the trade and commercial capacities to do so – particularly in professional advisory, financial services, shipping and logistics sectors.
In these cases, there is likely to be a significant role for a range of private commercial actors within these sectors with economic interests in engaging in SEA.
This suggests that policymakers combatting SEA should prioritise economies reliant on these sectors and promote improved sector regulation and enforcement measures.
More broadly, the research suggests that focusing on the role of third countries in SEA by industry sector, rather than just by country, may help to identify more tailored countermeasures.
This approach, and the specific nuances and features of particular types of SEA, enables more focused follow-on analysis and potentially more targeted policy responses.
Read here
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.