The UK Government announced, on 31 January 2022, a planned expansion of the UK’s sanctions regime against Russia in relation to developments concerning Ukraine. Whilst the UK Foreign Secretary noted, in a statement to the House of Commons, that the new measures will amount to “wide ranging sanctions in broad categories”, limited detail has been published, so far, on the scope of the proposed changes. The new sanctions will be introduced as part of…
Following developments on the Russia-Ukraine border, we invite you to join us for a webinar to help prepare your business for the possible impact of instability in the region. While the international business community very much hopes for a de-escalation of the situation, we are well-positioned in all relevant jurisdictions to help you anticipate and deal with various measures that may potentially be imposed should matters escalate further. With this ever evolving situation, our panel…
As reported by the FT yesterday (26 January 2022, article available here), the ECB has warned European lenders of the potential risks they will face, should further sanctions be imposed against Russia in the event of an invasion of Ukraine. The impact of any sanctions would not be limited to Russian financial institutions/businesses but is likely to be felt across the world, especially by financial institutions who have significant Russian exposure. The FT reported that…
On 25 November 2021, the new draft bill was registered in the State Duma providing for the extension of the exclusive competence of Russian arbitrazh (commercial) courts. Among the initiators of the bill was Andrey Lugovoy. The essence of amendments The future amendments will provide the right for Russian persons to file a lawsuit against a foreign person who directly or indirectly contributed to the adoption of restrictive measures. Such a contribution may take the…