RiskOperational RiskThomson Reuters Launches Russian Sanctions Tracking Service

Thomson Reuters Launches Russian Sanctions Tracking Service

Thomson Reuters is launching a Russian sanctions tracking service for companies.

Announcing the launch, the group noted that in July 2014, the European Union (EU) and the Office of Foreign Assets Control (OFAC) issued various executive orders and sectoral sanctions against Russia in retaliation for the Russian government’s annexation of Crimea and its activities to destabilise Ukraine.

The result of these sanctions has imposed an additional burden on investment and trade compliance as financial institutions (FIs) and infrastructure providers must ensure they do not trade or settle new debt or equity issued by sanctioned entities.

The new service provides FIs and their investment and trading intermediaries with the required information on sanctioned entities, their subsidiary relationships, and all instruments that are specifically impacted by the sanctions. It also includes daily updates to track any corporate actions related to sanctioned entities and new issuance of debt and equity that are restricted as a result of the sanctions.

Thomson Reuters added that the service leverages existing content and legal entity data to track Russian subsidiaries and any new instruments issued by these entities. It is delivered via Thomson Reuters DataScope Select, the strategic platform for non-streaming content, and benefits from its support infrastructure, regular updates of its entity and instrument sanctions list as well as proactive alerts for any new issues.

“Our new Russian sanctions tracking service is an excellent addition to our existing Russian Sanctions screening solution available through World-Check,” said Phil Cotter, managing director, head of risk, Thomson Reuters. Further details on both the service and the DataScope platform are available
here
.

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