We imagine that you have been closely following developments on the ground in Russia and Ukraine. We wanted to drop a brief email to you to let you know that we have already been thinking through the key issues for a number of clients associated with the recent US and EU sanctions against Russia and Ukraine and considering the potential implications of Russia imposing retaliatory sanctions measures.
In case this is of interest, we wanted to flag the following points:
- we have market-leading teams and dedicated trade sanctions experts in the US, the EU, Russia and elsewhere. As we have experienced with the Iran and Libya sanctions, we are able to pull together swiftly a multi-jurisdictional team to advise on sanctions compliance issues. Even across the EU, we have sanctions experts in key markets (including, the UK, Germany, the Netherlands, France, Italy, Spain, Belgium and Sweden) – this is important given that different EU Member States can take a very different approach to interpreting and licensing under EU sanctions regulations;
- in addition to the sanctions compliance risks, we work closely with our team of litigators to consider and mitigate against the risk of damages claims associated with terminating commercial relationships due to sanctions risks;
- our team produces sanctions alerts that are well received by clients. Our Ukraine sanctions alert from last week (covering US, EU, Swiss and Canadian measures) and our more recent Russia sanctions alert are attached to this email. You can also access our other recent sanctions alerts (close to 30 last year) via the following link: Sanctions alerts;
- on top of the more detailed client alerts, our International Trade compliance team is launching a dedicated webpage through which they will provide briefer and more regular updates on Russia/Ukraine sanctions, including what further measures are being contemplated. This will be of assistance to those clients who are following developments more closely. If this is of interest, please let us know and we will give you access to this webpage.
Please let us know if you have any questions. We stand ready to assist you with any query that you may have. If it would help, we would be happy to set up an introductory call with one of our sanctions experts.