U.S. agencies teamed up to impose new restrictions on hundreds of entities associated with Russia on February 23, 2024. As a result, American companies with possible exposure face rising due-diligence needs. This second article of a two-part series summarizes our discussion with several experts in the field, focusing on how cooperation among jurisdictions increases risks and what compliance steps companies should be taking to mitigate those risks. Part one explored the agencies’ latest measures and collaborative approach, targeted industries, and the U.S.’s focus on other countries. See our three-part sanctions 101 series: “How Sanctions Regimes Work” (Aug. 3, 2022), “Their Impact on Private Fund Investors and Investments” (Aug. 17, 2022), and “How to Comply With Them” (Sep. 14, 2022).