Market Chatter: Global Corporate Giants Draw Regulatory Attention to Blacklisted Groups in Supply Chains

MT Newswires Live
2 hours ago

Tesla (TSLA), Nokia (NOK), Amazon (AMZN), Volkswagen and other global groups have named businesses blacklisted by Western regulatory authorities as potentially embedded in their supply chains, the Financial Times reported.

More than 160 US companies and at least 10 based overseas included one or more of four gold refiners subject to US, European Union or UK sanctions in their latest conflict minerals or supply chain disclosures, according to FT analysis of regulatory filings.

"UK businesses are expected to ensure compliance with all UK sanctions regulations as part of their business operations, including performing due diligence checks on all of their clients, suppliers and partners," The UK's Treasury told MT Newswires, while declining to comment on specific issues.

"Non-compliance with UK sanctions is a serious offence and punishable through financial penalties or criminal prosecution," it added.

Nokia, Amazon and Tesla, as well as the US Treasury, the European Commission and the US Securities and Exchange Commission, did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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