Sanctions Compliance in the IT-Sector in the Light of Modern Challenges
( Pp. 173-179)
More about authors
Ponamorenko Vladislav E.
Dr. Sci. (Law); Scientific Director of the Institute of Compliance and Business Ethics of the Higher School of Law and Administration of the Higher School of Economics, Academic Director of the Master's program «International Corporate Compliance and Business Ethics»
Higher School of Economics
Moscow, Russian Federation Abdrakhmanova Alina R. student of the Higher School of Business; specialist of the Sanctions Risk Monitoring Group in Softline Integration LLC
Higher School of Economics
Moscow, Russian Federation Borisova Elina V. law student of the Higher School of Economics; specialist of the Sanctions Risk Monitoring Group in Softline Integration LLC
Higher School of Economics
Moscow, Russian Federation
Higher School of Economics
Moscow, Russian Federation Abdrakhmanova Alina R. student of the Higher School of Business; specialist of the Sanctions Risk Monitoring Group in Softline Integration LLC
Higher School of Economics
Moscow, Russian Federation Borisova Elina V. law student of the Higher School of Economics; specialist of the Sanctions Risk Monitoring Group in Softline Integration LLC
Higher School of Economics
Moscow, Russian Federation
Abstract:
Sanctions are often used as an instrument of pressure on opponents in the international sphere. The impact of economic sanctions imposed on the Russian Federation has increased significantly with the onset of a special military operation in the Ukraine. The imposed restrictions create an unfavorable environment for doing business in all spheres of economic relations, especially for the IT-sector. The domestic market is experiencing stagnation of economic development with a rapidly declining share of presence in the global high-tech market, but there are a number of positive prerequisites that contribute to the growth of IT-solutions integrators. This article will highlight the types of sanctions lists and their diversified impact on the IT-industry, recommendations on further ways to minimize negative consequences by integrating sanctions compliance into the business processes of organizations, as well as the projected future of the sanctions compliance function due to a reduction in the number of restrictions imposed and the adaptation of business to current market conditions.
How to Cite:
Ponamorenko V.E., Abdrakhmanova A.R., Borisova E.V., (2022), SANCTIONS COMPLIANCE IN THE IT-SECTOR IN THE LIGHT OF MODERN CHALLENGES. Economic Problems and Legal Practice, 6 => 173-179.
Reference list:
Federal Law «On the contract system in the field of procurement of goods, works, services for state and municipal needs» dated 05.04.2013 N 44-FZ (latest edition) // Reference legal system «Consultant plus». [Electronic resource] URL: https://www.consultant.ru/document/cons_doc_LAW_144624/?ysclid=laskiycmyc529087242.
Federal Law «On procurement of goods, works, services by certain types of legal entities» dated 18.07.2011 N 223-FZ (latest edition) // Reference legal system «Consultant plus». [Electronic resource] URL: https://www.consultant.ru/document/cons_doc_LAW_116964/.
Federal Law No. 281-FZ of 30.12.2006 (as amended on 01.05.2019) «On Special economic measures and coercive measures». // Legal reference system «Consultant plus». [Electronic resource] URL: https://www.consultant.ru/document/cons_doc_LAW_64883/3815d45b5fb660887f504b447582fc8b30ffcf17/.
The share of foreign IT software vendors in the Russian Federation will decrease to 5% by 2023-study, Fomag.ru. [Electronic resource] URL: https://fomag.ru/news-streem/dolya-zarubezhnykh-it-vendorov-po-sokratitsya-v-rf-do-5-k-2023-godu-issledovanie/?ysclid=l9brjvmsar492009598.
Logvinenko, M. V. Development of the IT industry in Russia under sanctions / M. V. Logvinenko // Economics and Business: Theory and practice. -2020. -№ 3-2(61). -Pp. 129-132.
Negmatova T.M. Sanctions as a foreign policy tool in the activities of international organizations and states: historical and theoretical aspect // Electronic library of dissertations. [Electronic resource] URL: https://www.dissercat.com/content/sanktsii-kak-vneshnepoliticheskii-instrument-v-deyatelnosti-mezhdunarodnykh-organizatsii-i?ysclid=lasjudgz32208740687.
Trends in compliance development in Russia and the CIS. 2020. [Electronic resource] available at URL: https://www2.deloitte.com/content/dam/Deloitte/kz/Documents/financial-services/Brochures_2020/compliance-development-trends-in-russia-and-cis.pdf?ysclid=l9jofxymyt103363724.
What is the risk of business in Russia with parallel import of IT equipment: RBC Pro ([Electronic resource] URL: https://pro.rbc.ru/demo/62aafe979a794722a300972c?ysclid=la01s6ekn9620710399.
Experts discussed the future of compliance in Russia. Round table of the Moscow Chamber of Commerce and Industry. Mostpp.ru [Electronic resource] URL: https://mostpp.ru/news/borba-s-korruptsiey-/eksperty-obsudili-budushchee-komplaensa-v-rossii/?ysclid=la40t42psc82579531.
Harper, J.R. (2022) U.S. Sanctions Policy on Trial: The Alleged Violations Litigation and Opportunities for Other States to Follow This Strategy , Virginia Journal of International Law.
Simola, H. (2022) Trade sanctions and Russian production , BOFIT Policy Brief, (4), pp. 3-10.
Softline продаст российский бизнес основателю компании за $1. 2022. Forbes.ru [Электронный ресурс] URL: https://www.forbes.ru/tekhnologii/479271-softline-prodast-rossijskij-biznes-osnovatelu-kompanii-za-1.
Susan Allen David Lektzian. Economic Sanctions: A Blunt Instrument Journal of Peace Research, 50(1), pp. 121-135.
X-Compliance-Sanctions: How to Identify Risks-Interfax Group Training Center.
Federal Law «On procurement of goods, works, services by certain types of legal entities» dated 18.07.2011 N 223-FZ (latest edition) // Reference legal system «Consultant plus». [Electronic resource] URL: https://www.consultant.ru/document/cons_doc_LAW_116964/.
Federal Law No. 281-FZ of 30.12.2006 (as amended on 01.05.2019) «On Special economic measures and coercive measures». // Legal reference system «Consultant plus». [Electronic resource] URL: https://www.consultant.ru/document/cons_doc_LAW_64883/3815d45b5fb660887f504b447582fc8b30ffcf17/.
The share of foreign IT software vendors in the Russian Federation will decrease to 5% by 2023-study, Fomag.ru. [Electronic resource] URL: https://fomag.ru/news-streem/dolya-zarubezhnykh-it-vendorov-po-sokratitsya-v-rf-do-5-k-2023-godu-issledovanie/?ysclid=l9brjvmsar492009598.
Logvinenko, M. V. Development of the IT industry in Russia under sanctions / M. V. Logvinenko // Economics and Business: Theory and practice. -2020. -№ 3-2(61). -Pp. 129-132.
Negmatova T.M. Sanctions as a foreign policy tool in the activities of international organizations and states: historical and theoretical aspect // Electronic library of dissertations. [Electronic resource] URL: https://www.dissercat.com/content/sanktsii-kak-vneshnepoliticheskii-instrument-v-deyatelnosti-mezhdunarodnykh-organizatsii-i?ysclid=lasjudgz32208740687.
Trends in compliance development in Russia and the CIS. 2020. [Electronic resource] available at URL: https://www2.deloitte.com/content/dam/Deloitte/kz/Documents/financial-services/Brochures_2020/compliance-development-trends-in-russia-and-cis.pdf?ysclid=l9jofxymyt103363724.
What is the risk of business in Russia with parallel import of IT equipment: RBC Pro ([Electronic resource] URL: https://pro.rbc.ru/demo/62aafe979a794722a300972c?ysclid=la01s6ekn9620710399.
Experts discussed the future of compliance in Russia. Round table of the Moscow Chamber of Commerce and Industry. Mostpp.ru [Electronic resource] URL: https://mostpp.ru/news/borba-s-korruptsiey-/eksperty-obsudili-budushchee-komplaensa-v-rossii/?ysclid=la40t42psc82579531.
Harper, J.R. (2022) U.S. Sanctions Policy on Trial: The Alleged Violations Litigation and Opportunities for Other States to Follow This Strategy , Virginia Journal of International Law.
Simola, H. (2022) Trade sanctions and Russian production , BOFIT Policy Brief, (4), pp. 3-10.
Softline продаст российский бизнес основателю компании за $1. 2022. Forbes.ru [Электронный ресурс] URL: https://www.forbes.ru/tekhnologii/479271-softline-prodast-rossijskij-biznes-osnovatelu-kompanii-za-1.
Susan Allen David Lektzian. Economic Sanctions: A Blunt Instrument Journal of Peace Research, 50(1), pp. 121-135.
X-Compliance-Sanctions: How to Identify Risks-Interfax Group Training Center.
Keywords:
OFAC, sanctions, negative lists, sanctions compliance, IT-sector, international regulators, Russian economy, OFAC.
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