The government announced sanctions against Russia that include legal services.
The extension to existing regulations against Russia restrict further their access to UK legal professionals.
Alex Chalk, the lord chancellor, has said that he no longer wants Russia to benefit from our legal knowledge and expertise. Many UK legal representatives advise international companies that deal with Russian businesses. It is a financial blow to the UK, but it makes an important stand against Russia’s violation of international law by further administering economic pressure. Prior to Russian sanctions, the UK exported legal services worth £56 billion to Russian businesses each year.
Is it being enforced?
Law firms must be scrupulous with their client screening to ensure that they are compliant, or risk facing criminal prosecution – this is being taken very seriously and strictly enforced. Firms must be cautious of not unknowingly accepting instruction from a client that could directly, or indirectly be acting for a Russian individual or entity.
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For more information on Russia’s legal sanctions, read this article from LegalFutures.
