The Malta Chamber of SMEs in collaboration with Diligex – AML Compliance Specialists and The Sanctions Monitoring Board earlier today organised a webinar on the Effects of EU-Russia sanctions on Maltese businesses.
Our speakers explained businesses obligations and practical ways of how businesses should go about this.
The war between Russia and Ukraine has created global uneasiness and disfunction. Maltese businesses have certainly been impacted by the effects of the war, with one of the main direct impacts being the UN- and EU-imposed Sanctions on Russia and the resulting repercussions on EU businesses.
The relevant laws applicable in Malta prohibit ALL companies and individuals from conducting business, directly or indirectly, with any sanctioned persons and/or any of their direct or indirect business interest.
ALL types of business are to evaluate their sanctions obligations in relation to wherever they conduct business. The Sanctions pose substantial obligations on any EU business and heavy repercussions both on the Maltese business itself as well as Malta as an EU country.
The speakers explained the obligations and repercussions in place and explained practical ways of how businesses should go about this.
A record of 430 participants registered for this webinar.
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The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).
