Since the first round of sanctions targeting Russia, Shearman & Sterling has advised banks, financial institutions, commercial companies and clearing houses in relation to complex cross-border sanctions issues. The firm has also delivered presentations on Russia sanctions and undertaken numerous lobbying efforts on behalf of industry in relation to these rules.
Although US and EU rules are becoming increasingly aligned, they also diverge in many ways and may not give the same answer to a particular question. This is particularly relevant to international businesses where the rules of more than one jurisdiction may be triggered. Because of the high frequency of rulemakings in this area, Russia sanctions developments should be closely monitored on an ongoing basis and advice should be sought in difficult cases.
This website provides a collection of resources relating to Russia sanctions and our commentary on Russia sanctions developments.