Sanctions Policy
Introduction
As a trusted service provider, JCS respects local and international rules and laws implemented in the context of strengthening global security through international sanctions.
What are sanctions
Sanctions are restrictive measures put in place to fulfil a range of purposes. In the UK, these include complying with UN and other international obligations, supporting foreign policy and national security objectives, as well as maintaining international peace and security, and preventing terrorism.
Objectives
To comply with the economic and trade sanction laws and regulations of the United Nations (UN), the European Union (EU), United states of America.
In order to comply with trade sanctions, we will:
- Prohibit business activities with parties who have been denied shipping privileges.
- Restrict and manage Trade controlled goods in compliance with the relevant government agencies.
In order to comply with financial sanctions, we will:
- Reject dealings with entities owned, held or controlled by a target (or where we know or have reasonable grounds to suspect that a target is holding or controlling those funds or economic resources)
- Not knowingly or intentionally participate in activities that would directly or indirectly circumvent the financial restrictions imposed by the sanctions regime or enable or facilitate the commission of any of the above.
How we will do this:
- Monitor - Using a risk- based approach, we will screen customers and transactions against global sanctions list.
- Communicate – Regularly review and update the business in the event of any material changes to trade sanctions and restrictions.
- Training - Provide adequate training and guidance to all relevant staff.
- Report – Where necessary we will report breaches of sanction laws to relevant regulatory authorities.
- Review – Regularly review the effectiveness of this policy.
If you require further information on trade sanctions and denied parties, below are some helpful websites that explain the sanctions and embargoes imposed by the UK, EU and US Government:
- UK sanctions - GOV.UK
- https://www.gov.uk/guidance/current-arms-embargoes-and-other-restrictions
- Financial sanctions targets by regime - GOV.UK (www.gov.uk)
UPDATED 01/04/2025
