UK to introduce new law preventing lawyers from advising Russian companies in latest sanction over Ukraine
Additional sanctions have been unveiled in opposition to Russia because the UK introduced a ban on Kremlin-linked people and companies from accessing British authorized experience.
The Ministry of Justice (MoJ) mentioned a new law could be launched on Thursday preventing UK lawyers from advising Russian companies on sure enterprise offers in a transfer designed to thwart Moscow’s battle machine in Ukraine from benefitting economically from world-leading authorized information.
Officers mentioned the sanction may influence Russia’s capability to acquire authorized recommendation on every thing from commerce offers between world firms to worldwide cash lending.
Russia is extremely depending on western international locations for authorized experience, in accordance to the MoJ, with the UK beforehand exporting £56 million in authorized companies to Russian companies yearly.
The UK authorized system underpins many worldwide contracts and companies, and we’ll not permit Russia to profit from our information and experience
Justice Secretary Alex Chalk
Justice secretary and lord chancellor Alex Chalk mentioned the sanction would “additional isolate” Moscow on the world stage.
It’s the latest step by the UK authorities to punish Russian president Vladimir Putin – who confronted an inside rebel by the mercenary Wagner Group on the weekend – for the reason that begin of his invasion of Ukraine in February 2022.
In complete, £19bn of UK-Russia commerce has been wholly or partially sanctioned, primarily based on 2021 commerce flows, in accordance to Authorities information.
Mr Chalk mentioned: “The UK authorized system underpins many worldwide contracts and companies, and we’ll not permit Russia to profit from our information and experience.
“The Russian regime should be held to account for its violation of worldwide law, and these sanctions are rising the financial strain to additional isolate the Russian authorities from the remainder of the world.”
International secretary James Cleverly mentioned: ”We proceed to crack down on Russia’s battle machine, maintain Putin to account and make it more durable for him to inflict struggling on the Ukrainian folks.
“Right now we’re additional strengthening the UK’s sanctions method, rising measures to block Russia from benefitting from UK authorized experience.
“The UK stands steadfast in our pledge to assist Ukraine for so long as it takes.”
