Compliance Week: What Sanctions on Russia Mean for US Companies
February 23, 2022
President Joe Biden signed an executive order this week imposing sanctions on on Russia, the Donetsk People’s Republic (DNR), and the Luhansk People’s Republic (LNR). “As a general matter, the Biden administration is continuing the strategy of issuing targeted sanctions, rather than broader sanctions, on all business in Russia,” O’Melveny partner Greta Lichtenbaum said. “The question is whether that approach changes if Russia expands its incursions into Ukraine. Any broad territorial sanctions will have a much broader impact on the ability of US firms to do business in Russia.”
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