On July 10th, the Bureau of Industry & Security (BIS) formalized recommendations to use publicly available tools to screen for companies who have exported Common High Priority List (CHPL) items to Russia.
This “BIS Best Practice” expands on the bureau’s traditional guidance in an effort to help industry better identify and mitigate Russian diversion risk. Now, in addition to screening for entities designated on the Unverified List, Entity List, Military End-User List, and Denied Persons List; companies are encouraged to screen against a list of entities with a known history of exporting CHPL items to Russia since its full-scale invasion of Ukraine.
The BIS recommendation aligns closely with Sayari’s longstanding practice of flagging not only watchlisted entities, but also entities with less obvious risk, such as beneficial ownership risk, trade history risk, and sanctioned party adjacency risks. In fact, with data on more than 1 million CHPL shipments going to Russia, Sayari’s counterparty and supply chain risk intelligence platforms give organizations more comprehensive insight into these diversion risks — before they’re more widely known.
Sayari offers other risk management advantages as well. In addition to providing risk visualizations, collaborative projects, monitoring, and a suite of world-class investigative tools, Sayari enables users to:
- Understand and contextualize shipments to Russia containing CHPL components. Granular, fully indexed trade data equipped with sophisticated filters makes it easier to track and triage problematic shipments.
- See shipments to companies owned by sanctioned Russian parties but located outside of Russia. Cross-border corporate networks can sometimes elude geographic screening tools. Sayari’s beneficial ownership risk flags, however, capture this type of complex risk.
- Go beyond CHPL codes to monitor other types of high-risk trading relationships to Russia. These may include shipments of gold and currencies, other types of dual-use goods, and critical raw material suppliers.
- Identify companies exporting to sanctioned parties in other high-risk jurisdictions bordering Russia. Detailed corporate and trade data on companies in China, Turkey, Kazakhstan and other Central Asian states makes it possible to engage more confidently with customers in these high-risk countries.
- Operate according to frequently refreshed trade data rather than a static dataset. Sayari updates its trade data monthly, and other high-demand data updates either monthly or quarterly. Regardless, all attributes and relationships are clearly sourced and timestamped so that users can make fully informed decisions.
Sayari is also committed to helping customers interpret and contextualize the risk they uncover. In addition to hosting routine analyst-led masterclass sessions, Sayari provides individualized analyst support.
A safer society is a shared responsibility. Request a demo today to learn how Sayari empowers U.S. exporters to meet — and get ahead of — new BIS recommendations.
