Law firms Linklaters and Baker McKenzie consider cutting ties with Russia
Magic Circle law firm Linklaters and Chicago law firm Baker McKenzie have said they are considering cutting links to Russia, as law firms face mounting pressure to sever any links with the Putin regime.
In an email to City PM a Baker McKenzie spokesperson said the firm is currently reviewing its ties to Russia with a view to cutting links with certain clients.
“Baker McKenzie is reviewing and adjusting our Russia-related operations and client work to align with all applicable sanctions and comply with these fast-evolving laws,” the Baker McKenzie spokesperson said.
“We do not comment on the details of specific client relationships, but this will mean in some cases exiting relationships completely.”
A spokesperson for Magic Circle law firm Linklaters also said it is “reviewing” its Russia-related work.
“The situation in Ukraine is deeply distressing and our immediate thoughts are with the Ukrainian people,” the Linklaters spokesperson said.
“We’re actively monitoring the situation and working to ensure the safety and support of colleagues and their families. We’re also reviewing all of the firm’s Russia-related work.”
The comments come after the UK government suggested law firms could face sanctions, if they help to prop up the Putin regime.
No comment!
Separately, Norton Rose Fulbright told its lawyers not to comment on sanctions.
In an email to City PM a Norton Rose Fulbright spokesperson said: “Our sanctions team is advising clients across the world and, given the rapidly evolving situation, it is important that this advice is provided directly, through the appropriate channels.”
“We therefore recently issued an internal notice relating specifically to external commentary on sanctions.”
“We take client confidentiality extremely seriously and it is standard practice for us to issue internal notices on any developing legal and regulatory issues, where clients may be directly or indirectly affected.
“We are not able to comment on individual clients. We have appropriate risk management policies in place across our global business and keep all relationships the firm has under review.”
Magic Circle law firms Freshfields and Allen & Overy both refused to comment.