Simpson Thacher Attorneys Author Law360 Article on U.S. Sanctions Against Russian Oil Companies
The U.S. Department of Treasury's Office of Foreign Assets Control (OFAC) recently designated two of Russia's largest oil companies and their subsidiaries as specially designated nations, marking an escalation of the U.S. government's restrictions on Russia and adding a new layer of regulatory complexity for the operations of the global energy sector.
Partners Abram Ellis and George Wang, and Associate Anais Bourbon authored an article in Law360, "New Russia Energy Sanctions Add Compliance Complexity," that examines the sanctions and similar measures imposed by the UK and the EU to target Russia's energy sector. The authors highlight the increased compliance complexities for global businesses, especially those in energy and finance, and provide guidance for businesses to avoid fines, criminal charges and reputational damage risks.
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