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Global Compliance and Regulation

  • Trade Regulations: Adhering to all international trade laws, including those set by the World Trade Organization (WTO).

  • Anti-Money Laundering (AML) Protocols: Implementing stringent AML and "Know Your Customer" (KYC) procedures to prevent illicit activities.

  • Sanctions and Embargoes: Ensuring full compliance with all international sanctions and trade embargoes.

  • Customs and Duties: Managing all customs documentation and duty payments to facilitate smooth cross-border trade.

  • Environmental Regulations: Complying with all environmental regulations related to the storage, transport, and handling of commodities.

  • Anti-Bribery and Corruption: Maintaining a zero-tolerance policy for bribery and corruption and implementing strict internal controls.

  • Data Privacy Laws: Protecting client data and financial information in compliance with global data privacy regulations like GDPR.

  • Audits and Reporting: Conducting regular internal and external audits to ensure complete regulatory compliance.

  • Licensing and Permits: Securing all necessary licenses and permits for trading and operational activities in every jurisdiction.

  • Legal Advisory: Consulting with legal experts in each region to stay ahead of changing regulatory landscapes.

  • Transparent Reporting: Providing transparent and accurate reports to regulators and clients to build trust.

  • Internal Compliance Training: Conducting regular training sessions for all employees on compliance protocols and best practices.

  • Dispute Resolution: Having a clear legal framework and strategy to handle any international trade disputes.

Based on the current geopolitical landscape and recent policy announcements, the US sanctions framework significantly impacts global commodity sales in 2025:

 

  • The US Treasury's Office of Foreign Assets Control (OFAC) has intensified restrictions on Russia's energy sector, specifically targeting major oil producers and the affiliated maritime logistics networks to suppress commodity revenue streams.

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  • Compliance risk for commodity traders remains elevated due to the increased scrutiny of the shadow fleet and the potential for secondary sanctions on international actors facilitating the illicit transport of sanctioned crude oil and petroleum products.

Incoterms 2020 defines the essential responsibilities, costs, and risks for buyers and sellers in the international and domestic delivery of goods, standardizing commercial contract clauses globally. These rules, published by the International Chamber of Commerce (ICC), ensure clarity in critical activities like export clearance, carriage obligations, and the precise point of risk transfer between the two parties. A fundamental change in Incoterms 2020 was the clarification of appropriate levels of insurance coverage for the CIF (Cost, Insurance, and Freight) and CIP (Carriage and Insurance Paid To) rules, mitigating financial exposure for the cargo owner during transit. A significant structural update in Incoterms 2020 was the renaming of DAT (Delivered at Terminal) to DPU (Delivered at Place Unloaded), providing flexibility for the delivery point to be any agreed-upon location, not strictly a terminal.