US Sanctions On Russia Keep Coming, And The Legal Issues And Risks Keep Growing

The United States has had economic sanctions in place against Russia since 2014, when it invaded the Crimea Region of Ukraine. But reaction to Russia's wholesale military incursion in 2022 has taken the extent and degree of sanctions to a far higher level, creating the need for U.S. companies to establish much stronger diligence programs and in some cases deal with complex compliance issues. Further, the adoption of varying sanctions by numerous other countries and Russia's recent moves to impose counter sanctions and take steps against companies complying with international sanctions have made operating in the global marketplace a complicated and high-risk proposition. And there is every indication the U.S. and other countries are looking for further sanctions to impose. Few businesses are equipped to assess and manage this new and fast-changing paradigm, and reliance on experienced counsel has never been more important.