Compliance with international sanctions

As an international company, NIS is obliged to operate in full compliance with applicable legislation, domestic as well as international.

Regulatory activity in the field of international sanctions is continuously monitored in NIS in order to ensure that our business operates free of regulatory risks through their timely review and proper understanding. Precisely in this context, in mid 2023, NIS started implementing a new internal procedure – Sanctions compliance, in order to ensure full compliance of business operations with relevant international sanctions.

The Sanctions compliance procedure is a set of internal controls that enable NIS to determine the ownership structure of each partner and to evaluate intended transactions (their object, origin/final destination of the goods) in order to assess whether cooperation with a specific partner on an intended transaction presents a risk for NIS. Compliance checks are performed  prior to entering into a contractual relationship or before renewing a contract.

The introduction of the Sanctions compliance procedure by NIS is a guarantee for all our partners and  our investors that business cooperation with NIS is at all times fully aligned with applicable sanction restrictions in today’s complex sanctions environment.