Energy, Oil, Gas
USA, UAE sign bilateral cooperation agreement against terrorism, transnational and cybercrime.
U.S., U.K., E.U. to remove selected Russian banks from the SWIFT system.
NZ Ministry of Justice calls for submissions to review the country’s AML CFT Law.
Central Bank of Oman and NCFI cooperation agreement to enhance AML CFT information sharing.
The energy industry has never been far from risks stemming from corruption, terrorism financing, sanctioned jurisdictions, and designated entities. Energy is one of the first industries targeted by multilateral sanctions.
For Up, Mid and Downstream Operations
Petroleum and other commodities provide a lifeline for many regimes; thus, energy routes and parts of energy operations are instrumentalised for evasion strategies. Several upstream energy operations are located in geographical hot spots prone to conflict, some of them subject to corruption-ridden jurisdictions, and vulnerable to exploitation by terrorists – crude oil has been used as a means of financing illegal organizations.
Mid and downstream operations on the other hand, are exposed to heightened risks of environmental non-compliance, where failures can impact transportation, relationships with clients and suppliers, and bring on fines, criminal charges.
Insight-driven risk assessments and programs are a must to mitigate
sanction-related risks for the energy industry.
Exemptions, contextual shifts, secondary sanctions, political interventions, and policy changes create a complicated picture for energy actors. A vital, and sophisticated industry threatened by both standing and emerging risk factors, new realities, and legislative ordeals; risk management for the Energy industry must be based on long-term thinking, and adaptability.
For All Actors
From shipping companies to banks, consultants, operators, vessel owners, and
business units, Sanction Trace covers all.
Identify Weak points
Alive data that allows the depth of perspective to diagnose vulnerabilities in
Up, Mid and Downstream
Automate due diligence, see hidden risks for your entire line of operations.