2022 saw OFAC issuing fines that totalled $42 million and now, with a record-breaking number of sanctions placed on Russia and the implementation of the oil price cap, these fines and the focus on the oil & gas industry will increase.
Pole Star has put together some new year’s resolutions for your team to stay on track:
1) Remain up-to-date with new regulations using real-time data
2) Screen the tankers and carriers that your business uses, and their ownership, to determine risk
3) Monitor oil or gas transshipments for unplanned or dark activity
4) Implement automated solutions to ensure that you’re analysing high-risks, not false positives
Download the full guide now.