February 28, 2022
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Big Law in Moscow Faces Dilemma Over Disclosing Responses to Russian Aggression in Ukraine | The American Lawyer - The American Lawyer

Central Bank of Russia building in Moscow. Credit: Mistervlad/Shutterstock.com

What You Need to Know

  • In response to sanctions, some law firms have made it known that they are dropping Russian companies from their client roster.
  • Others have been slower to react, and may not even provide confirmation they have dropped sanctioned clients.
  • Some law firms may fear reprisals for their national staff in Russia, while others may want to ensure business continues.

While some American law firms have been quick to publicize the dropping of Russian clients on government sanctions lists, some firms with offices and people in Russia are reticent to provide any information on their activities—for fear of reprisals against lawyers and staff still in Russia.

The U.S. and other allies Saturday announced they would block access to SWIFT financial messaging by the Russian central bank in response to President Vladimir Putin’s war against Ukraine, marking the third set of sanctions in the past two weeks. The Biden administration on Thursday revealed it was imposing “severe and immediate economic costs” on Russia, including “sweeping” financial sanctions and “stringent” export controls aimed at having a “profound impact” on Russia’s economy, financial system, and access to technology.

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source: https://www.law.com/americanlawyer/2022/02/28/big-law-in-moscow-faces-dilemma-over-disclosing-responses-to-russian-aggression-in-ukraine/

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