LONDON (Reuters) – Britain will on Thursday introduce a law to prevent British lawyers from advising Russian companies on certain business deals, in an attempt to exert further pressure on Russia.
“The UK legal system underpins many international contracts and businesses and we will no longer allow Russia to benefit from our knowledge and expertise,” Britain’s justice minister Alex Chalk said in a statement.
The Ministry of Justice (MoJ) said the legislation, which will be effective immediately, could prevent lawyers advising Russian businesses on trade deals between global companies or international money lending, building on existing sanctions imposed after the invasion of Ukraine last year.
The new law could also stop UK lawyers advising international companies on lending decisions to Russian businesses, the MoJ said, but will not affect legal representation for Russian nationals.
Since Russia’s invasion of Ukraine, Britain has frozen around 19 billion pounds ($24 billion) in assets and sanctioned over 1,550 Russian individuals.
(Reporting by Sam Tobin; editing by Barbara Lewis)
Brought to you by www.srnnews.com