In an effort to increase pressure on Russia, the United Kingdom will unveil a new law on Thursday that prohibits British lawyers from providing advisory services to Russian companies in
specific business transactions.
According to a statement by Britain's justice minister, Alex Chalk, the UK legal system plays a pivotal role in numerous international contracts and businesses. The aim of the legislation is to prevent Russia from benefitting from British knowledge and expertise.
The Ministry of Justice (MoJ) announced that the law, which will come into effect immediately, is designed to prevent lawyers from advising Russian businesses on trade deals involving global companies or international financial transactions. This legislation builds upon existing sanctions imposed after Russia's invasion of Ukraine last year.
Furthermore, the new law may also restrict UK lawyers from offering guidance to international companies regarding lending decisions involving Russian businesses. However, it will not impact legal representation for Russian nationals.
In response to Russia's invasion of Ukraine, the UK has already frozen approximately £19 billion ($24 billion) in assets and implemented sanctions against more than 1,550 Russian individuals. The introduction of this legislation adds to the array of measures taken by Britain to exert further pressure on Russia. Photo by Bjørn Erik Pedersen, Wikimedia commons.