The UK government plans to introduce a new law aimed at restricting British lawyers from advising Russian companies on specific business deals. This action is part of a broader strategy to increase pressure on Russia following its invasion of Ukraine.
The proposed law in the UK will ban lawyers from providing legal services to Russian companies engaged in different activities. These activities include acquiring or selling critical infrastructure in the UK, acquiring or selling UK companies with assets in Russia, raising funds in the UK, and listing on UK stock exchanges. Additionally, the law will also prohibit UK lawyers from offering legal assistance to Russian individuals who have been sanctioned by the UK government.
According to the government, this legislation is necessary to prevent Russian companies from exploiting the UK’s legal system to facilitate their activities within Russia. It is also intended to send a clear message to Russia that the UK will not serve as a safe haven for those seeking to profit from the invasion of Ukraine.
Anticipating a mixed response, the law has generated concerns among some lawyers who worry that it may interfere with their professional obligations and potentially affect innocent Russian companies entangled in the sanctions regime. However, the government assures that the law will be implemented with careful targeting and exemptions will be granted to companies not involved in the aforementioned activities.
The law is expected to be enacted in the coming weeks.
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