The Group`s Legal Advisers Said They Were

Russia`s major state-owned companies, including energy titans and banks, have often sought legal advice from British and US companies. Backed by colossal resources and funding, the Russian government waged a war in Ukraine that devastated the nation and its people and provoked international condemnation. Now, companies with ties to the Russian state, including a number of Western-run law firms, are under the scrutiny of the international community. The US and EU, and to a lesser extent the UK, are imposing harsh economic sanctions to stifle the Russian economy, such as restricting the flow of international reserves and excluding Russian lenders from the SWIFT banking system. This will inevitably have an impact on the fee generation of law firms.