The Consequences of Non-Compliance to Sanctions
Sanctions are penalties regarding financial or commercial activities. A country or group of countries may put sanctions on another country, a group of people or organizations, or even an individual person. Though Sanctions themselves are essentially penalties, the consequences of breaking sanctions are even more severe. The penalties for disobeying or disregarding sanctions depend on the body that puts the sanctions in place. The major bodies that have the authority to create and place sanctions are the OFAC, UN, EU and the OFSI. Intergovernmental authorities consider sanctions as part of International Law, and it is illegal for any country, organization or individual to break sanctions placed on another itself or another entity.
Consequences of Non-ComplianceThe consequences of non-compliance with sanctions depend on their nature. It is expected that sanctioned entities only operate within their limits. If a sanctioned nation attempts to conduct trade outside of its jurisdiction, then it can suffer heavy penalties. Most nations conduct trade with ships. Ships can help to transport large amounts of goods at a time and can access any nation's trading routes quite easily through their ports. Placing economic sanctions on countries essentially means putting a stop to their maritime trade activities. If any country or organization n the sanction watchlist attempts to move goods for export/import via sea, then the sanctioning body has the authority to seize and destroy the vessels in question. Many sanctioned countries also unknowingly rope in ship providers and traders to transport their goods for them or illegally
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