The current geo-political environment, characterized as it is by heightened tension and insecurity, has resulted in a fluid situation in terms of sanctions against various states, entities and individuals. The current state of sanctions has fluctuated over the past two to three years and will probably continue to remain in a state of flux for some time to come. This frequently changing landscape includes escalating sanctions against Russia and uncertainty about the status of Iran sanctions. Indeed, while there was a partial suspension of some of the EU and US restrictions against Iran, these suspensions have been extended twice already, and there is no clear indication ahead of what may happen after the next suspension period expires. In fact, previous suspensions have tended to involve a last minute diplomatic scurry, so it’s unlikely that any information will come to light before the decision to continue the suspension is made. The diplomatic conflict over issuing sanctions on Russia continues and appears to be expanding, with some countries, like Greece for example, against the action. This conflict has meant that decision making on the subject has had to be postponed, and in the meantime to add to the confusion, Russia has issued retaliatory sanctions of their own. While the US state senate is also divided on the topic, the EU has in the past year managed to publish more than 20 regulations imposing sanctions that relate to the Ukraine crisis. This can be a challenging situation for organizations to manage, but failing to take sanctions into account whilst trading can have substantial repercussions. Not only is there the threat of substantial fines and reputational risk, businesses also face the risk of being blocked from trading in certain regions for a specific period of time. As sanctions change, their impact on business in specific regions will also change, so it’s important to stay up-to-date with any new decisions. In the podcast, Hala Abou Alwan, Head of Advisory and Educational Services for Thomson Reuters in MENA, speaks to Ernst Pienaar, the Head of Research for World-Check, a Thomson Reuters Financial and Risk unit, on sanctions, their impact on global trade and what MENA-based businesses should know about them.