Published February 24, 2022
Together with the rest of the world, we are watching closely the current events in Ukraine. Altair Global’s main goal is to provide assistance to our customers to make sure they remain safe and keep our clients informed during this time. While impacts on individuals will vary depending on their personal circumstances, we are providing our current assessment of the situation, as well as what steps we are taking to provide support during this tense and alarming time.
- We have been working diligently to assist our clients to assess their employee population and to provide insight into options available
- Altair is working very closely with those of you who have employees affected by the situation, as well as our supplier partners to deal with emergency evacuations
- Immigration partners have advised visas and immigration procedures will be fast-tracked in numerous countries
SUPPLIERS CURRENTLY AFFECTED
- Our Supplier Partnerships team has been working with our supplier partners in the region to understand the current situation and restraints on transportation of goods into and out of the affected areas, as well as neighboring countries
- This will no doubt exacerbate current supply chain challenges and disruptions
- We expect that in-country supplier services are suspended in Ukraine
- Altair is confirming as information comes in from each supplier and travel partner
- Payments can currently be made to Russian and Ukrainian beneficiaries
- However, these payments are subject to review from our partner’s compliance department and are approved on a case-by-case basis
- Payments with any connection to the Crimea, Luhansk and Donetsk regions will not be processes
- Payments can be made into Ukraine, including the western part of Ukraine
- This does not include the regions where sanctions are currently administered, including the Crimea, Luhansk and Donetsk regions
WHAT HAPPENS NOW?
- Office of Foreign Assets Control (OFAC) restrictions and requirements will most likely be updated given the current situation
- Humanitarian Organizations in neighboring locations are offering to help individuals
- We expect neighboring countries to be heavily impacted with those fleeing Ukraine
- Our main expectation is Poland will be most impacted and possibly Romania and Bucharest
Please be advised this situation is fluid and changing rapidly. Altair Global will do all we can to assist with mobility efforts as events unfold.
If you have any questions, please contact your Altair Global Client Services representative for more information.