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SANCTIONS

Russia's invasion of Ukraine has put sanctions near the top of risk issues for law firms. While the current focus is on Russia and Belarus, the sanctions regime has a global reach and can apply to several nationalities and organisations. This is not an issue that will go away soon.

Exemptions

Some exemptions may be possible under the Office of Financial Sanctions Implementation, which will decide if fees for some work are permissible. The rules on the above may change rapidly.

Your responsibilities

Failing to follow the financial sanctions requirements could result in criminal prosecution or a large public fine. You should ensure that you have the right processes, systems and controls in place.

For more information, read the CLC's Sanctions Advisory Note.

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