Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Canada
  4. Toronto Stock Exchange
  5. The Descartes Systems Group Inc.
  6. News
  7. Summary
    DSG   CA2499061083

THE DESCARTES SYSTEMS GROUP INC.

(DSG)
  Report
Delayed Toronto Stock Exchange  -  04:00:00 2023-03-24 pm EDT
106.49 CAD   -1.82%
03/20Descartes' Annual Ecommerce Study Shows Slightly Improved Home Delivery Performance as 67% of Consumers Still Face Delivery Problems
GL
03/20Descartes' Annual Ecommerce Study Shows Slightly Improved Home Delivery Performance as 67% of Consumers Still Face Delivery Problems
AQ
03/03The Descartes Systems Group Inc: A clean slate
MS
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Descartes : Global Sanctions Response to Russian Invasion of Ukraine

03/01/2022 | 11:59am EDT

Western nations, including the United States, the United Kingdom and European Union along with Japan, Australia, Switzerland, New Zealand and Canada have imposed what they describe as "strong" and "severe" sanctions on Russia, following Moscow's invasion of Ukraine.

The new restrictions - which focus on additional individuals being added to watchlists, expanded export controls (especially on high-tech and sensitive technology products) and further isolating the Russian financial system - add to international sanctions already imposed over the past eight years of the Russia-Ukraine conflict.

New Russia-Ukraine Sanctions Imposed thus far

In the immediate aftermath of the Ukraine crisis escalating into armed conflict, the United States and the United Kingdom were quick to impose sanctions, as detailed in an earlier article posted in the Descartes Knowledge Center.

In the days that followed, further curbs were announced in rapid succession by the U.S. and UK as well as new ones by the EU, Canada, Switzerland, Japan, Australia, and New Zealand, with more likely to join.

The common theme is the targeting of Russian elites, banks (including the Central Bank), oil refining industry, and high-tech and military exports. The U.S., UK, EU, and Canada also expelled some Russian banks from SWIFT (Society for Worldwide Interbank Financial Telecommunications), which would disrupt the flow of money in or out of the country. The following is a list of major actions announced:

  • U.S. Commerce Department (OFAC):comprehensive export controls that severely restrict Moscow's access to military technologies covering semiconductors, computers, telecommunications, information security systems, lasers and sensors. The measures also expand the scope of 'military end use' and 'military end user' requirements to all items subject to the Export Administration Regulations (EAR).
  • U.S. Treasury Department (BIS):bank restrictions that further bar Russia from the global financial system. The action now targets about 80 per cent of Russian banking assets. It also imposed sanctions on 24 individuals and entities from Belarus, a key Moscow ally in the Ukraine crisis.
  • European Union: agreement on further restrictive measures covering the financial, energy, and transport sectors, dual use goods, along with export financing and the inclusion of additional individuals to watchlists.
  • United Kingdom:all-encompassing sanctions, including freezing the assets of leading Russian banks, plus prohibitions relating to military and dual use goods and technology, provision of military technical assistance, and energy and infrastructure-related goods.
  • Canada: expansion of the Special Economic Measures Act to sanction hundreds more individuals and entities, as well as major Russian banks.
  • Switzerland:extension of prohibition of new business relationships to more than 300 newly added individuals and four corporate entities.
  • Japan:sanctions package freezing the assets of Russian banks, banning exports to military-linked groups and restricting shipments of semi-conductors and other hi-tech products.
  • Australia: expansion of existing sanctions targeting commercial activity relating to the transport, telecommunications, energy exploitation of oil and gas, and minerals sectors.
  • New Zealand: ban on exports to the Russian military and security forces.
  • Taiwan: announced that it would also impose sanctions, but did not specify measures.
How Businesses Are Expected to Comply

The extensive nature of these regulatory instruments, combined with the speed of their implementation, creates significant challenges for businesses trying to understand the impacts on their operations. If your company is involved in commercial activities in the Russia/Ukraine region or with Russian-based companies, it is critical to leverage all the tools at your disposal to review and understand the implications of these new restrictions, and to also map the direct potential risk exposure to your supply chain. Appropriate steps include:

  1. Reviewing current customer and supplier lists, which can be accomplished by screening for denied, debarred and blocked entities using updated watchlists, and the critical words to emphasize are "updated watchlists".
    And since there are hundreds of these lists to screen against, automated screening is the most efficient way to achieve effective compliance. But periodic batch screening is also an option.
  2. Screening IP addresses to help ensure the business party you are interacting with are where they say they are. See also our recent article on OFAC enforcement actions make companies doing business on the internet consider IP Address geolocation screening.
  3. Accurately classifying export items and technology that includes taking into account up-to-date country restrictions and trade embargoes. Again, note "up-to-date".
  4. Requesting an end-use/end-user certification from your buyers, especially if they are in Europe, another important step in mitigating risk to your organization.
How Descartes can help

In a rapidly-changing environment, organizations need to stay on constant alert to ever-evolving rules and requirements. Or they can save time and resources by relying on proven software solutions that keep the compliance process moving forward like clockwork, with up-to-date screening, classification and related compliance content.

To meet evolving compliance requirements, Descartes adds new entities to its screening lists as government and other official sources update theirs. Lists related to the Ukraine crisis have been updated within our application, and any further additions will similarly be made promptly to help keep our customers in compliance with sanctions and embargoes programs. Appropriate, timely updates are also made to classification and other compliance content.

Descartes is a provider of an industry-leading suite of denied party screening, 3rd party risk management solutions, as well as trade content for leading business systems, that can be integrated with minimal disruption, sometimes in under an hour.

Descartes Visual Compliance and Descartes MK solutions are flexible and modular, allowing organizations to pick the specific and exact functionality and content they need for their particular compliance needs and scale up later as and when necessary.

Written by Jackson Wood

Director, Industry Strategy, Global Trade Intelligence, Descartes

Disclaimer

The Descartes Systems Group Inc. published this content on 01 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2022 16:58:09 UTC.


ę Publicnow 2022
All news about THE DESCARTES SYSTEMS GROUP INC.
03/20Descartes' Annual Ecommerce Study Shows Slightly Improved Home Delivery Performance as ..
GL
03/20Descartes' Annual Ecommerce Study Shows Slightly Improved Home Delivery Performance as ..
AQ
03/03The Descartes Systems Group Inc: A clean slate
MS
03/02RBC Capital Raises Descartes Target to US$95, Maintains Outperform, on "Solid Q4"
MT
03/02Stephens Adjusts Price Target on Descartes Systems to $90 From $85, Maintains Overweigh..
MT
03/02BMO Capital Adjusts Price Target on Descartes Systems to $78 From $71, Maintains Market..
MT
03/02TD Securities Adjusts Descartes Systems Group Price Target to $90 From $85, Maintains B..
MT
03/02Scotiabank Adjusts Descartes Systems Group Price Target to $84 From $80, Maintains Sect..
MT
03/02RBC Boosts Price Target on Descartes Systems Group to $95 From $85 After 'Solid' Q4, Ma..
MT
03/02North American Morning Briefing: Rising Yields -2-
DJ
More news
Analyst Recommendations on THE DESCARTES SYSTEMS GROUP INC.
More recommendations
Financials (USD)
Sales 2024 552 M - -
Net income 2024 119 M - -
Net cash 2024 291 M - -
P/E ratio 2024 55,3x
Yield 2024 -
Capitalization 6 569 M 6 569 M -
EV / Sales 2024 11,4x
EV / Sales 2025 10,1x
Nbr of Employees 1 356
Free-Float 100,0%
Chart THE DESCARTES SYSTEMS GROUP INC.
Duration : Period :
The Descartes Systems Group Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends THE DESCARTES SYSTEMS GROUP INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 77,44 $
Average target price 68,33 $
Spread / Average Target -11,8%
EPS Revisions
Managers and Directors
Edward J. Ryan Vice President-Sales
John Scott Pagan President & Chief Operating Officer
Allan James Brett Chief Financial Officer
Eric A. Demirian Non-Executive Chairman
Raimond Diederik Executive Vice President-Information Services
Sector and Competitors
1st jan.Capi. (M$)
THE DESCARTES SYSTEMS GROUP INC.12.82%6 569
ORACLE CORPORATION7.67%237 610
SAP SE18.25%143 102
SERVICENOW, INC.11.49%87 879
CONSTELLATION SOFTWARE INC.13.12%36 852
HUBSPOT, INC.36.88%19 548
Secure and increase the performance of your investments with our team of experts at your side.
Securing my Investments
fermer