Although a typically difficult topic to navigate, the inadvertent violation of sanctions was not something businesses in Hungary had to worry about. That changed drastically on February 24, 2022, from which point rapidly changing regulations created an increasingly complex minefield of risks that suddenly many had to navigate. Join us for a discussion on the geopolitical realities of the ongoing war in Ukraine and other potential conflicts in the world and learn how and why sanctions are used and what effects they have on the global and state economies. We will also discuss the practical aspects of complying with sanctions as a business, the risks and pitfalls one needs to avoid and the surprisingly high penalties that may be incurred – even unknowingly.
Event details:
Date: Wednesday, June 7
Location: Párisi Udvar Hotel Budapest (1052 Budapest, Petőfi Sándor u. 2-4.)
Registration: 08:30-09:00
Conference & Reception: 09:00-13:30
Participation fee: Members: 34,990 HUF +VAT; Non-members: 45,000 HUF + VAT
Cancellation policy: please note that written cancellations made by June 1 receive a full refund. Late cancellations or “no-shows” will be charged.
The event will be held in English without translation.
Agenda:
08:30-09:00: Arrival and networking
09:00-09:05: Welcome Remarks by Krisztián Toka, Board Member, AmCham Hungary
09:05-09:30: Assessment of Sanctions in the Foreign Policy Toolkit - Keynote by Botond Feledy, Director of Tipping Point Consulting, Geopolitical Risk Analyst and EU Expert
09:30-10:00: Straddling the Fence: Managing Economic Sanctions in Hungary - Keynote by Ramsey Jurdi, Partner, DLA Piper
10:00-10:20: Coffee break and networking
10:20-11:00: Panel I.: Bringing Out the Stick: Sanctions in Geopolitics
Santions are an often talked about staple of hard power projection in international affairs. But how and why are they levied and to what effect?
Moderator: Dávid Kőhegyi, Partner, Head of Compliance and Investigations, DLA Piper Budapest
Panelists:
- Ramsey Jurdi, Partner, DLA Piper
- Botond Feledy, Director of Tipping Point Consulting, Geopolitical Risk Analyst and EU Expert
11:00-11:40: Panel II.: Sanctions and You: A Practical Discussion on Risk Mitigation
In this panel, we discuss the practical compliance questions that all businesses should be familiar with, such as: “What is the compliant way to navingating a rapidly changing sanction environment?”, “How much due diligence is needed?”, “What are the unintended consequences of violation?”, and many more.
Moderator: Judit Budai, Senior Partner, Szecskay Attorneys-at-law
Panelists:
- Tamás Nietsch, Vice Chairman of the Hungarian Association of Customs Affairs
- Nicholas Sarvari, Managing Partner, CNS Risk
11:40-11:45: Closing Remarks
11:45-13:30: Reception and networking
Please note that the agenda is subject to change.
The event is not open to the press, Chatham House rules apply.
Ramsey has considerable experience advising U.S. and international companies on compliance with respect to economic sanctions and U.S. export controls, defending white-collar criminal inquiries and conducting special investigations. He has been involved in a variety of matters relating to economic sanctions administered by the Office of Foreign Assets Control (OFAC) and the Foreign Corrupt Practices Act (FCPA) and has designed compliance programs for companies in the pharmaceutical, petrochemical, and general manufacturing industries.
Ramsey also has strong dispute resolution experience, regularly appearing as counsel in arbitration proceedings and advising on disputes throughout the Middle East.
Ramsey is the four-term elected President of the American Business Council of Dubai & the Northern Emirates, a chapter of the US Chamber of Commerce, and is a champion for US - UAE trade and investment.
David has a particular expertise in investor-state arbitration and recently participated in the renegotiation of ICSID’s Arbitration Rules. David is on ICSID’s Panel of Arbitrators as Hungary’s designee.
David is a dual-qualified attorney as a member of the Budapest Bar Association and the State Bar of New York.
He was Second Vice President of the American Chamber of Commerce in Hungary.
During the first half of her practice, Judit played both a team member and team leader advisory role in a number of privatization and strategic M&A (both seller and buyer side) deals and IPOs. Recently Judit is more active in M&A and corporate restructuring or finance transactions for both strategic and financial investors (VC/PE investors and financial institutions), or giving complex corporate structuring advise to innovative start-ups. Judit also advises business owners and top executives in connection with expanding their businesses and restructuring operation for a more sustainable business model or to help generation exchange or solving shareholders disputes.
She is fluent in English.
He is one of the founding members of the Hungarian Association of Customs Affairs and has served as a Board member, then as the Chairman of the Professional and International Commission. Nowadays he is the Vice Chairman of the Association. He was one of the directors of the International Federation of Customs Brokers Associations between 1994 and 2006, then the Chairman between 2006 and 2008. He has been working with the Commission on Customs and Trade Facilitation of the International Chamber of Commerce for about 20 years, and he is the Chairman of the same commission of the ICC Section of the Hungarian Chamber of Commerce and Industry. He is a member in the International Compliance Professionals Association, too. He is the author of the books “The Rules of International Trading in Hungary” (2004, 2005 and 2006) and “The Role of Customs in the Supply Chain” (2018), he was a member of the editorial board of the book “The Export Trade”, the chair of the Professional Commission for the Translation of Incoterms 2010 to Hungarian. He was the proof-reader of the Hungarian translation of Incoterms 2020.
