In response to the Russian army’s invasion of Ukraine, many nations have implemented economic sanctions on Russia and certain Russian entities and individuals. In addition, hundreds of companies, foreign to Russia, voluntarily are suspending or terminating operations in Russia.
In turn, the Russian Federation has taken certain measures against foreign stakeholders, including, among other things, preventing foreign investors from selling Russian assets and authorizing Russian companies to pay foreign-held debt in rubles where the creditor hails from an “unfriendly” country. Russia also has authorized Russian businesses to use foreign intellectual property without compensating owners of such intellectual property from “unfriendly” countries. The United States, the United Kingdom, and the countries of the European Union are among the many such “unfriendly” countries.
Click here to read Milbank Insights: Russian Invasion of Ukraine: Legal Issues Surrounding Russia's Contemplated Nationalization of Companies.
Related Milbank Insights: Russian Invasion of Ukraine: Potential Litigation Issues
