Self-sanctioning Russia

Author: Richard L. Kilpatrick, Jr.
Published: 11.05.2022
Private Supplements to Public Regulation Commercial actors around the world are reacting to Russia’s invasion of Ukraine by voluntarily reducing their exposure to Russia-connected trades. Although the economic sanctions imposed by the EU, UK, US, Japan, and other major powers have been rapid and sweeping, the deliberate choice by the business community to willingly de-couple from Russia-linked transactions has further amplified the force of the collective response. As sanctioning authorities bar a range of private sector activities with a Russia nexus, commercial entities have mobilized to wind down operations, cancel projects, divert resources, and re-calibrate risk mitigation and due diligence…