The European Commission has introduced a new EU sanctions helpdesk aimed at assisting small and medium-sized enterprises (SMEs) in understanding and complying with the 40 global sanction regimes currently in place.
The free service is designed to help businesses navigate complex trade restrictions and avoid missing out on legitimate opportunities due to uncertainty over their legality. A dedicated website will provide sanctions-related information, country-specific guidance, and educational resources.
While larger businesses can sometimes access support, the initiative primarily targets SMEs, which often lack the compliance resources of bigger corporations. The helpdesk will collaborate with public authorities, business support groups, financial institutions, and international compliance organizations to provide tailored guidance.
Maria Luís Albuquerque, the EU Commissioner for Financial Services and the Savings and Investments Union, highlighted the importance of the initiative, noting that sanctions play a key role in addressing conflicts and crises worldwide. She acknowledged that increased sanctions have complicated business operations for SMEs, making it harder for them to conduct due diligence independently.
“Through its resources, events, and compliance support services, this one-stop shop will help SMEs understand how to comply with sanctions,” she said.
As the global regulatory landscape continues to evolve, the helpdesk aims to ensure that European businesses can adapt while maintaining compliance with international trade laws.
