Companies Are On Edge As Russia Sanctions Escalate

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Morrison & Foerster LLP

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Known for providing cutting-edge legal advice on matters that are redefining industries, Morrison & Foerster has 17 offices located in the United States, Asia, and Europe. Our clients include Fortune 100 companies, leading tech and life sciences companies, and some of the largest financial institutions. We also represent investment funds and startups.
Brandon Van Grack spoke to Global Investigations Review about President Biden imposing heightened sanctions on Russia on February 24 following an initial wave of restrictions earlier this week in an attempt...
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Brandon Van Grack spoke to Global Investigations Review about President Biden imposing heightened sanctions on Russia on February 24 following an initial wave of restrictions earlier this week in an attempt to kneecap the country's economic power. Companies and financial institutions around the world, meanwhile, are turning to U.S. lawyers with questions and concerns about what the sanctions will mean for their businesses.

"These sanctions will be very disruptive to many global firms and banks, and will require most such entities to adopt additional layers of compliance to their ongoing operations in Russia," Brandon said.

He added that these sanctions "have crossed certain lines for the first time" – including a prohibition on U.S. financial institutions in trading Russian sovereign debt that's already been sold by the government – compliance teams at global firms and banks need to be prepared for the U.S. to adopt additional measures "that will make their operation and activities in Russia more difficult."

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Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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