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 SANCTION COMPLIANCE POLICY

 INTRODUCTION

At Raspn Shipping Services Pvt. Ltd., we are committed to upholding the highest standards of ethical conduct and legal compliance. Our operations are guided by international laws and maritime regulations, ensuring that we adhere to global standards of trade and security. As a responsible and conscientious shipping service provider, we have a strict policy against shipping to or from countries under international sanctions. This policy is rooted in our dedication to ethical business practices and compliance with international laws.

 SANCTION COMPLIANCE POLICY

Definition and Scope

Sanctioned countries are nations subject to trade restrictions, embargoes, and sanctions imposed by international governing bodies such as the United Nations (UN), the European Union (EU), and the United States (US) through the Office of Foreign Assets Control (OFAC). These sanctions may include prohibitions on trade, financial transactions, travel, and other economic activities

Current List of Sanctioned Countries

The following countries are currently under international sanctions, and Raspn Shipping Services Pvt. Ltd. does not provide shipping services to or from these locations. This list is regularly updated to reflect changes in international policies:

  • North Korea

  • Libya

  • Iran

  • Venezuela

  • Syria

  • Cuba

  • Sudan

  • Myanmar (Burma)

This list is not exhaustive and may include other countries subject to international sanctions. For the most current list, please refer to official sources such as the United Nations Security Council, the European Union, and the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury.

POLICY STATEMENT

Commitment to Compliance

  1. Adherence to International Laws: Raspn Shipping Services Pvt. Ltd. is committed to full compliance with all applicable international laws and regulations. Our policy is guided by the following key frameworks:

  • United Nations Security Council Resolutions: We comply with sanctions and embargoes imposed by the UN Security Council, which mandate restrictions on trade and shipping with specific countries and entities.

  • European Union Sanctions: We adhere to sanctions and trade restrictions enacted by the European Union, which may include asset freezes, travel bans, and prohibitions on certain types of trade.

  • U.S. Department of the Treasury (OFAC) Regulations: We follow the guidelines and restrictions set forth by OFAC, which administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals.

  2. Prohibited Transactions:

  • No Shipments to or from Sanctioned Countries: Raspn Shipping Services Pvt. Ltd. does not engage in shipping transactions to or from countries listed under international sanctions. This includes the transportation of goods, services, and any other related activities.

  • No Business with Sanctioned Entities: We do not conduct business with individuals, organizations, or entities that are listed on international sanctions lists, including those identified by the UN, EU, and OFAC.

COMPLIANCE MEASURES

  • Regular Compliance Audits: To ensure ongoing compliance with international sanctions, Raspn Shipping Services Pvt. Ltd. conducts regular audits of our operations and transactions. Our compliance team is dedicated to monitoring international sanctions and updating our policies accordingly. These audits are designed to identify and mitigate any risks associated with sanctioned countries and entities.

  • Employee Training and Awareness: All employees at         Raspn Shipping Services Pvt. Ltd. receive regular training on international sanctions and compliance requirements. This training ensures that our team is well-informed about current regulations and can uphold our commitment to ethical business practices. Employees are trained to recognize potential compliance issues and to take appropriate actions to address them.

  • Due Diligence and Screening: We implement rigorous due diligence and screening processes to ensure that we do not engage in transactions with sanctioned countries or entities. This includes screening all clients, suppliers, and partners against international sanctions lists. Our compliance team uses advanced tools and databases to verify the status of all parties involved in our operations.

  • Reporting and Transparency: Raspn Shipping Services Pvt. Ltd. maintains transparency in our operations by providing clear and accurate information to our clients and partners. We encourage the reporting of any suspicious activities or potential compliance issues to our compliance team. All reports are thoroughly investigated, and appropriate actions are taken to address any violations of our policy.

CONSEQUENCE OF NON-COMPLIANCE

Non-compliance with international sanctions can have severe legal and financial consequences for Raspn Shipping Services Pvt. Ltd. and our clients. These may include fines, penalties, loss of business licenses, and reputational damage. To mitigate these risks, we enforce strict adherence to our sanctions policy and take immediate corrective actions in case of any violations.

INTERNATIONAL LAWS & MARITIME REGULATIONS

United Nations

Security Council Sanctions

The United Nations Security Council (UNSC) imposes sanctions as a means of maintaining or restoring international peace and security. These sanctions can include comprehensive economic and trade embargoes, asset freezes, travel bans, and other measures aimed at specific countries, entities, or individuals. UNSC sanctions are binding on all member states, and compliance is mandatory.

European

Union Sanctions

The European Union (EU) implements restrictive measures, commonly known as sanctions, to promote 
its foreign and security policy objectives. EU sanctions may 
target governments, entities, and individuals responsible for certain actions, such as violations of international law or human rights abuses. These measures can include arms embargoes, trade restrictions, financial restrictions, and travel bans.

U.S. Department of the Treasury (OFAC) Regulations

The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals. OFAC sanctions target countries, entities, and individuals involved in activities such as terrorism, narcotics trafficking, and proliferation of weapons of mass destruction. Compliance with OFAC regulations is mandatory for U.S. persons and businesses.

ETHICAL BUSINESS PRACTICES

GLOBAL PROTECTION

COMITMENT TO GLOBAL SECURITY

GLOBAL PROTECTION

COMMITMENT TO GLOBAL SECURITY

RASPN Shipping Services Pvt. Ltd. is dedicated to contributing to global security and stability through our compliance with international sanctions. By adhering to these regulations, we support the efforts of the international community to address threats to peace and security, including terrorism, human rights abuses, and the proliferation of weapons of mass destruction.

Social responsibility

COMITMENT TO GLOBAL SECURITY

Social responsibility

Corporate Social Responsibility

As part of our corporate social responsibility (CSR) initiatives, we strive to operate in a manner that is ethical, sustainable, and socially responsible. Our sanctions policy reflects our commitment to responsible business practices and our dedication to upholding the principles of international law.
We believe that ethical conduct
is essential to building trust with 
our clients, partners, and the communities in which we operate.

ECOLOGICAL BULB

COMITMENT TO GLOBAL SECURITY

ECOLOGICAL BULB

Sustainability & Environmental Responsibility

In addition to our compliance
with international sanctions, RASPN Shipping Services Pvt. Ltd. is committed to sustainability and environmental responsibility. We implement eco - friendly practices in our operations, including reducing carbon emissions, minimizing
waste, and promoting the use
of renewable energy sources.
Our goal is to contribute to a
sustainable future while maintaining high standards of service and compliance.

CLIENT AND PARTNER GUIDENCE

Ensuring Compliance

We work closely with our clients and partners to ensure that they are aware of and comply with our sanctions policy. This includes providing guidance on international sanctions, assisting with compliance screenings, and offering training on best practices for ethical business conduct. Our compliance team is available to answer any questions and provide support to ensure that all transactions are conducted in accordance with international regulations.

Transparent Communication

Transparency is a cornerstone of our operations. We maintain open and honest communication with our clients and partners, providing them with clear information about our sanctions policy and compliance requirements. By fostering a culture of transparency, we aim to build trust and strengthen our relationships with all stakeholders.

Continuous Improvement

Raspn Shipping Services Pvt. Ltd. is committed to continuous improvement in our compliance practices. We regularly review and update our policies and procedures to reflect changes in international laws and best practices. By staying informed and proactive, we ensure that our operations remain compliant and aligned with global standards.

REPORTING AND INQUIRES

Reporting Violations

If you become aware of any violations of our sanctions policy or have concerns about 
potential non-compliance, please report them immediately to our compliance team at l1compliance@raspnshipping.co.in . All reports are treated confidentially and will be 
thoroughly investigated. We are committed to taking appropriate actions to address any violations and to maintain the integrity of our operations.

Inquiries and Support

For any inquiries about our sanctions policy or to seek guidance on specific compliance matters, please contact our compliance team. We are here to provide support and ensure that our clients and partners have the information they need to comply with international regulations. Our team can be reached at support@raspnshipping.co.in.

 NOTE :

-United Nations Security Council Sanctions: [UN Sanctions](https://www.un.org/securitycouncil/ sanctions/information)

-European Union Sanctions: [EU Sanctions](https://ec.europa.eu/info/business-economy-euro/banking-and-finance/international-relations/restrictive-measures-sanctions_en)

-U.S. Department of the Treasury (OFAC): [OFAC Sanctions](https://home.treasury.gov/policy-issues/financial-sanctions/sanctions-programs-and-country-information)

Raspn Shipping Services Pvt. Ltd. takes its responsibility to comply with international laws very seriously. Our strict policy against shipping to or from sanctioned countries reflects our dedication to ethical business conduct and global security. We thank you for your understanding and cooperation.

For further information, please refer to the following resources:

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