Crisis Management, Economic sanctions and Compliance

Crisis Management, Economic sanctions and Compliance

About
Experience

Our team advises Russian and foreign clients across all industries on the most significant and sensitive Russian sanctions, as well as their impact and effect in light of sanctions from the US and EU. We position ourselves as a business-oriented firm that provides our clients with superb and efficient legal advice that enables them to achieve their business objectives.

As a full services independent law firm, we are uniquely positioned to assist our clients in responding to the most sensitive and significant inquiries from regulators and dive deep into our clients’ business (with a full understanding of our clients’ business model and the most essential areas of their commercial activities) to provide them with only the most relevant and practical legal advice. Our practice also encompasses regulatory advice, compliance counseling and other various due diligence issues. In addition, we represent clients in the commercial disputes related to the impact of sanctions on business matters and advises clients on possible ways to resolve sanctions disputes.

In collaboration with our Best Friends network, which includes top-tier law firms all over the world, including major jurisdictions of the US, all EU members and all APAC countries, we are capable of providing our clients with the most thorough and extensive legal advice and cover regulations in key jurisdictions.

Areas of expertise:

  • A targeted analysis of the impact of economic sanctions and permanent monitoring of current developments. This is a purely unique service that we provide to our clients, which enables them to navigate the various economic sanctions and updates to restrictions and to receive only the most relevant and important updates that impact their business. Instead of general and sometimes irrelevant updates, we provide our clients with targeted, practical legal advice and proposals.

  • Withdrawing from and restructuring Russian assets. Our team has unique expertise in assisting clients with urgently withdrawing from Russian assets or restructuring ownership in Russian assets to comply with the economic sanctions. With our assessment of practical risks and various practices available at our firm, we are committed to providing our clients with legal advice, while prioritizing quality, efficiency and speed.

  • Applying for permits under the new counter-sanctions FDI regime. We have unique experience in the new FDI regime, which has been established as part of Russian counter-sanctions measures. We help our clients understand what actions require a permit to be granted under the new procedure (e.g. repayments of loans, transactions with shares and real estate) as well as apply for a permit in the most efficient way.

  • Sanctions disputes. Currently, sanctions have a significant impact not only on the fulfillment of obligations, but also on the dispute resolution procedure itself, including the enforceability of arbitration and jurisdiction agreements and the determination of the competent forum. In this connection, the impact of the sanctions should be taken into account from the very beginning, even when structuring the relations of the parties. Our team has significant experience in advising clients on the best way to resolve disputes with sanction element in each specific situation taking into account the novelties of the Russian procedural legislation, which by default establish the exclusive jurisdiction of Russian courts in relation to sanctions disputes. Also, we have profound experience in representing clients in disputes related to the impact of both foreign and Russian sanctions and countersanctions including application of anti-suit injunctions.

  • Developing internal policies for compliance with various economic sanctions, and assisting clients with sanctions compliance issues and contract-related disputes.

  • Regulatory insight. We have an unparalleled understanding of the legal and policy underpinnings of Russian counter-sanctions and AML/CFT regulations as well as the impact of foreign sanctions on the operations of our clients in Russia. Our team has significant experience communicating with the Central Bank of the Russian Federation, the Federal Financial Monitoring Office, the Federal Tax Office and the Federal Antimonopoly Service and representing our clients before these agencies. We have strong insight into the background and factors that motivate these agencies’ enforcement and other regulatory decisions. Our experience enables us to assist clients with anticipating emerging regulatory and enforcement trends.

  • Regulatory advice and compliance counseling. Our primary goal is to assist our clients in complying with regulatory requirements while avoiding unnecessary complications. Our team has advised numerous foreign and Russian clients on a broad range of sanctions and AML/CTF matters, including complicated issues regarding particular transactions and managing or restructuring existing business relations. We recently helped our clients with navigate the changing legal environment due to the foreign sanctions imposed on Russia as well as the Russian counter-sanctions, including restrictions on loans and currency exchange. We also have experience developing and updating compliance policies and implementing risk management plans. Our team has successful experience obtaining approvals from the Government Commission for Control over Foreign Investments as well.

  • Termination or suspension of contractual obligations with Russian business partners. Our clients (including their Russia-based affiliates and branches) have faced situations where they urgently need to suspend or terminate their business relations with Russian companies due to sanctions and restrictions imposed by the governments of the United States, United Kingdom, European Union and other countries. Our team has the experience needed to advise Russian and international clients on what options are available for suspending/terminating contractual relations with their partners in light of the current geopolitical situation with due consideration given to the specifics of law enforcement practices in Russia.

  • Human resource crisis management. We provide our clients with comprehensive support on all issues related to human resource crisis management. The extent of our experience and expertise allows us to promptly and proactively help our clients from completely different industries, from preparing communications to implementing the most out-of-box solutions in human resources. Given our experience in building cross-border labor relations, we help our clients deal with relocation, remote work and international team management. We provide support in suspending and terminating employment relations, defend clients in court and defend them before the state authorities in the most difficult situations.

Highlights of our projects include advising:

A major international bank

on the loan swap transaction entered into with one of the state banks in Russia for the amounts exceeding EUR 750m, including on related Russian counter-sanctions restrictions and permits from Russian authorities for the transaction.

Publicis Group

one of the largest communications group in the world, a leader in marketing, communication and digital business transformation, in the transaction on exit from russia via MBO (management buy-out) as well as on foreign and russian sanctions compliance when dealing with russian entities / businesses.

Top US and EU banks and financial institutions

on compliance with the Russian counter-sanctions imposed in 2022 and the restructuring of their assets/financial documentation and policies.

A European-based company with US ownership

on compliance of the client’s measures (in accordance with the requirements of US and EU sanctions legislation) with Russian counter-sanctions as well as possible risks for the client and ways to mitigate them.

Various Russian and foreign entities

in connection with the suspension/restructuring of their Russian business due to the sanctions.

One of the largest telecommunications operators in Russia

on application of Russian counter-measures and necessity to get approval for certain operations from the Government Commission for Control over Foreign Investments.

A prominent Russian charitable foundation

as part of due diligence on their internal compliance system, where our assistance included developing and introducing a new comprehensive compliance system as well as communication with donors and the state authorities, taking into account best global practices as well as local specifics.

A worldwide producer of industrial gases and equipment

on the liability of the company, its management and regular employees for violating Russian counter-sanctions legislation, and we also provided a preliminary assessment of measures that aim to avoid/mitigate the respective risks.

One of the world’s leading financial analytics

with regard to the drafting of new Russian counter-sanctions, their content and possible influence on the client’s business, including possible consequences for the client’s participation in state procurements.

A global telecommunications operator

on application of Russian counter measures with regard to loan agreements.

We provided monthly updates on amendments to the list of Russian counter-sanctions and also advised the client, which is an international agri-tech company

on the preparation of new sanctions-related legislation and its possible influence on the client’s business.

We conducted an internal investigation into the Russian division of a French consumer goods manufacturer (FMCG) listed on the New York Stock Exchange.

During the investigation, we analyzed possible corrupt practices and whether the US Foreign Corrupt Practices Act (FCPA) could apply, with an analysis of the risks of fraud in procurements, accounting, interviewing employees and coordinating the work of the computer technology team.

Several international pharmaceutical companies

with regard to the imposition of new Russian counter-sanctions on the import and export of pharmaceutical products, including potential exceptions, the impact on supply chains and ways to mitigate this impact.

A large international company

on the applicability of the US Foreign Corrupt Practices Act of 1977 in Russia, and we developed an internal policy for them under applicable anti-corruption laws, taking into account the provisions of foreign laws, in particular the FCPA.

A major foreign commercial bank

on how to prevent fraudulent activities by the company’s employees and shareholders, including an audit of possible risks associated with fraud, and we identified signs of fraud in several commercial transactions and also performed a detailed analysis of possible fraudulent activities and ways to mitigate risks.

A leading business software developer

on the suspension and termination of their license and technical support agreements with Russian-based customers in light of the client’s inability to render further services and support due to sanctions preventing the business from operating on the Russian market.

A foreign animal food producer

on the impact of Russian counter-measures.

Several luxury brands

on the suspension/termination of supplies to and the operation of local stores in Russia.

We use cookies to offer better performance of the website and fulfill some other purposes specified in the Privacy Policy. By way of ticking the box you provide your consent to use of cookies. Otherwise, we will only use technical cookies, which are necessary for proper functioning of the website.
Accept