How should businesses with interests and investments in Russia or Belarus adapt in light of recent sanctions imposed on those nations by the U.S., E.U. and U.K.? Stroock's CFIUS team has produced an in-depth report detailing the firm's recommended actions and summarizing the sanctions.
Here are the basics. Businesses that have operations involving nations tied to the invasion of Ukraine should:
- ensure compliance with the new sanctions and export controls, taking advantage of the authorized "wind down" periods to thoroughly analyze and answer any complicated questions;
- ensure that they have in place sufficiently robust due diligence processes to screen business partners in the region from both a legal and reputational perspective;
- depending on the scope of their potential vulnerability, prepare for possible Russian countermeasures including sanctions, asset seizures, expulsions of local personnel, regulatory harassment and cyber attacks;
- think through various scenarios about possible escalation in the region, analyze how the various scenarios might affect their business in Eastern Europe more generally and develop appropriate contingency plans based on each.
Details regarding a webcast featuring further discussion and analysis of the evolving situation in Ukraine to come.
Click to download the full report on "The Ukraine Crisis: What Businesses Need to Know".
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
