Commission launches helpdesk to support EU SMEs comply with sanctions

The European Commission has launched a new one-stop-shop providing vital support to European small and medium-sized enterprises (SMEs) navigating the complex landscape of sanctions compliance. The EU Sanctions Helpdesk will offer a comprehensive range of services designed to help SMEs comply with EU sanctions worldwide, reducing the risk of non-compliance, and associated costs.

The Helpdesk will provide personalised support to EU SMEs performing sanctions due diligence checks – at no cost to the companies. The Helpdesk will manage a dedicated website featuring sanctions-related information, country-specific guidance, events, tips, lessons learned, and more. While there are instances where larger entities can benefit from support, the Helpdesk´s focus is on SMEs as they typically have fewer compliance resources than large companies.

All UN and EU sanctions are to be covered by the Helpdesk, providing SMEs with the necessary information to manage the challenges of sanctions compliance with confidence.

Maria Luís Albuquerque, Commissioner for Financial Services and the Savings and Investments Union, said: “The EU has over 40 sanctions regimes globally to prevent conflict or respond to current or emerging crises. The growing use of sanctions can make the activities of our SMEs more complex. That’s why we are launching the EU Sanctions Helpdesk. Through its resources, events and, especially, its Compliance Support Service, this one-stop-shop will help SMEs understand how to comply with sanctions and assist those SMEs that find it challenging to perform due diligence independently. This is what our SMEs deserve – they are the engine of the EU economy, and the Commission will always do everything in its power to support their vital work.”

Source: European Commission