Law Firms Drop Russian Clients Following Invasion of Ukraine
A host of law firms have said that they are dropping Russian clients and reviewing work related to Russia to comply with the spate of global sanctions following Russia's invasion of Ukraine, per reports from Reuters and Law.com. Firms such as White & Case, Baker McKenzie, and Morgan Lewis & Bockius -- all with offices in Russia -- are working to gauge sanctions exposure due to their dealings with Russian clients and flush the exposure from their business.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
White & Case, for instance, worked with newly sanctioned VTB Bank in 2021 on a $1.7 billion restructuring deal and is "taking steps to exit some representations in accordance with applicable rules of professional responsibility," a spokesperson said, according to the Reuters report. Global firms Sidley Austin, Venable and others have announced that they are dropping sanctioned companies from their client lists, Law.com said.
Baker McKenzie, meanwhile, which has also worked with VTB and has 130 lawyers listed on its website as based in Russia, said that the firm is looking to adjust its Russian operations and client work to comply with the sanctions. "This will mean in some cases exiting relationships completely," a spokesperson said. A representative of Morgan Lewis said that firm also is looking at client representations, given the situation, Reuters reported.
Implications for lawyers representing Russian companies in antidumping and countervailing duty matters remain unclear. Counsel for various Russian companies in AD/CVD cases at the Court of International Trade and the U.S. Court of Appeals for the Federal Circuit did not immediately comment.