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Update: In a statement to TheBlaze, Clare Locke LLP indicated that the firm’s business relationship with the Russian oligarchs “has concluded.”
In the immediate aftermath of Russian President Vladimir Putin’s invasion of Ukraine, Western nations and institutions moved to cripple the Russian economy through the swift implementation of thoroughgoing sanctions.
In late February, the European Commission — the executive branch of the European Union — along with leadership from France, Germany, Italy, Canada, the United Kingdom, and the United States issued a joint statement declaring their intention to prevent Russian banks from accessing the SWIFT communications network .
In doing so, Western leaders effectively made it impossible for Russia to participate in international trade using the necessary financial infrastructure established by the SWIFT network. Western leaders also took it upon themselves to sanction “the people and entities who facilitate the war in Ukraine” and to “limit the sale of citizenship … that let wealthy Russians connected to the government become citizens of our countries and gain access to our financial systems.”
Western governments locked arms and declared their opposition to Russia’s invasion, and Western companies began to divest and terminate their dealings within the Russian marketplace . These sanctions and divestments led Russian […]
Read the whole story at www.theblaze.com
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