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A spokesperson for the Prime Minister suggested law firms may also face sanctions themselves, as he told law firms to “think very carefully” about propping up the Putin regime.
Severing ties?
Following Liz Truss’ comments, London law firm Norton Rose Fulbright banned its lawyers from commenting on sanctions externally.
A company spokesperson said: “Our sanctions team is advising clients across the world and, given the rapidly evolving situation, it is important that this advice is provided directly, through the appropriate channels.”
The law firm, which has offices in Moscow and an extensive list of Russian clients, did not say whether it was planning to cut ties with Russian clients, but instead said all of its relationship are constantly under review.
“We have appropriate risk management policies in place across our global business and keep all relationships the firm has under review,” the Norton Rose Fulbright spokesperson said.
Today, Magic Circle Law firm Linklaters and Chicago headquartered law firm Baker McKenzie said they would be reviewing their links to Russia.
In an email to City A.M. a Baker McKenzie spokesperson said the law firm is currently “reviewing” it ties to Russia, as part of a process which will see it sever ties with certain Russian clients.
A spokesperson for Magic Circle law firm Linklaters also said the firm would be reviewing all of its “Russia-related work.”
Magic Circle law firms Freshfields and Allen & Overy both refused to comment.
