A reader wrote in to ask which countries, other than Iran and North Korea, they should be wary of trading with because of potential US Sanctions problems; as they are just about to enter a contract with a US entity and want to ensure compliance with all US regulations. The answer is an awful lot of countries.
The USA currently sanctions involving the following countries and regions of the world:
- Central African Republic
- Democratic Republic of Congo
- Ivory Coast
- Moldova (Magnitsky sanctions)
- North Korea
- South Sudan
The content of these sanctions differs from country to country and some are extra-geographic (not country specific), such as the diamond trade sanctions and restrictions on criminal organisations, however, it is important to ensure compliance in the above regions, particularly when trading in US Dollars.