As we start the New Year, every compliance professional (and senior executive) should take a moment to acknowledge the amazing efforts made in 2022 by trade compliance professionals to ensure overall compliance with a maze of complex economic sanctions and export controls implemented in response to Russia’s unprovoked invasion of Ukraine.

Starting in February 2022, and almost on a daily basis, the U.S. government, along with its allies and partners, issued new and complex economic sanctions and export controls.  Depending on a company’s risk profile, trade compliance officers scrambled each day to maintain compliance, inform relevant business leaders and senior executives of changing risks and requirements for global export and important operations.

Alex Cotoia, Regulatory Manager at The Volkov Law Group, and Michael Volkov discuss the important role played by trade compliance professionals during the past year.