Maritime AI Firm Launches Russia Sanctions Compliance Tool
A predictive intelligence company applying AI global maritime trade has launched a solution to minimize risk exposure in maritime trade as it relates to ongoing sanctions against Russia.
In response to the recent Russian invasion into Ukraine, heavy economic sanctions were imposed days prior to the invasion and have since escalated rapidly. Amongst the most prominent organizations affected are Sverbank and VTB, two of the largest Russian financial institutions, state-owned Sovcomflot, Russia’s largest maritime and freight shipping company, and the Russian Maritime Register of Shipping. Adding to these complexities, both the U.S. and the U.K. have announced new bans on imports of Russian oil, gas and energy. The sanctions affect not only the vessels, companies, and individuals listed but also every other entity that is connected through complex ownership links and potentially the cargo itself.
Windward said its newly launched Russia sanctions solution enables stakeholders to understand the full scope of Russian-related trade, including cargo destinations and sources, allowing them to conduct business in accordance with new, rapidly evolving restrictions. Companies and vessels flagged by the Windward database as connected to Russia will be flagged in the platform as Moderate Risk (Amber).
Powered by advanced machine learning and behavioral analytics models, the platform’s analytics tools analyze and flag crude oil and other potentially banned or sanctioned cargoes as they are exported out of Russian and into destination countries.
The platform also allows every company to configure, monitor and adjust their practices based on their business preferences as as the conflict and trade restrictions evolve.
“Windward is committed to providing our customers with the utmost visibility during these turbulent times,” said Ami Daniel, Co-Founder & CEO of Windward. “As the fog of the conflict and increased sanctions make conducting trade even more complex, we will continuously update our platform so our customers can continue to conduct business with confidence.”
Windward is offering its Maritime AI platform to new users for a period of two weeks, at no cost and without asking for any commitment.