AAK Annual Report 2020

AAK 37 Annual Report 2020 are vulnerable to political instability that can impact currencies and exchange rates. We operate in Eastern Europe, the Middle East, Asia, Africa, and South America, where instability may arise. As a well-established operator in these areas, we have extensive experience of handling such issues. In addition, we operate with a deliberate risk management strategy. Global operations also involve risks such as trade barriers, inflation, environmental and health-related legislation, and changes in national or regional legisla- tion, e.g. the introduction of protective tariffs and taxes, which prevent us from operating in a free market. Trade sanctions and export controls AAK is committed to conducting business in accord- ance with applicable trade sanctions laws and export control regulations which we believe are important tools in the international community’s drive to inter alia improve human rights. AAK will not tolerate any violation of trade sanctions laws, export control laws or related regulations by its employees. This means that we will not engage, directly or indirectly, in any busi- ness, dealing, or transaction prohibited by applicable trade sanctions or export control regulations. Furthermore, AAK and its employees will not carry out any direct or indirect business activities with any per- son, entity or government targeted by trade sanctions, nor export goods or services subject to applicable export control laws without required licenses and/or approvals from the relevant authorities.