The U.S. government urged companies to comply with sanctions imposed on Russia in response to its invasion of Ukraine to prevent any enforcement actions or prosecution, Reuters reported Thursday.
U.S. companies should be aware of the use of shell companies, obscured shipping data and aliases to evade U.S. sanctions or restrictions, according to a joint notice by the U.S. departments of the Treasury, Commerce and Justice.
“Businesses of all stripes should act responsibly by implementing rigorous compliance controls,” the joint notice added.
Bloomberg reported that Russian President Vladimir Putin issued new rules that would enable his government to take over companies that fail to meet defense contract requirements in the event of martial law.
According to the decree, the Kremlin will establish a government working group to oversee the operations of defense companies under martial law.
