Cooley continues to monitor the Russian invasion of Ukraine closely, along with related actions taken by the US and other countries. Below is a compendium of resources intended to help global companies, boards, investors and founders navigate the evolving situation. We will update this space as additional guidance and analysis is published.
New EU and UK Sanctions Aimed at Russia and Belarus: What You Need to Know
On 3 June 2022, the European Council finally adopted the sixth set of economic and individual sanctions targeting Russia and Belarus. The new measures, which came after weeks of member state negotiations, focus on oil imports and transport, broadcasting outlets, export restrictions, further financial and business-related restrictions, and the criminalisation of sanctions breaches. Additional individuals also have been added to the travel ban and asset freeze lists. The UK has announced a series of similar measures.
Investment Treaties Could Provide Remedy For Russia’s Unlawful Seizure of Foreign Assets
As Reuters recently reported, Russia is preparing a new law that will allow it to seize the local businesses of Western companies that have left or suspended operations in Russia due to the invasion of Ukraine. Affected companies, who may see their investments in Russia expropriated without compensation, could have a remedy under international law through investment treaties.
Update on Protecting Intellectual Property in Russia
The Office of Foreign Assets Control at the US Department of the Treasury has issued General License 31, which authorizes certain transactions related to patents, trademarks and copyrights.
Ukraine Intellectual Property Deadlines and Russia Patent Protections
Newly updated information is provided regarding recent intellectual property (IP) developments in Russia and Ukraine since our last alert.
Intellectual Property Update Regarding Russia, Belarus and Ukraine
A summary of recent intellectual property (IP) developments in Russia, Belarus, Ukraine and the Eurasian Patent Organization, along with a description of the actions that Cooley has taken in response to these developments and our current recommendations.
War and Office of Foreign Assets Control Exclusions: Insurance Policy Language Matters
Numerous companies are focused on how the war might impact their business, including their insurance coverage. This advisory provides a high-level overview of two types of insurance exclusions that may be implicated: war exclusions and OFAC exclusions.
Russia and Belarus Sanctions Issues for Private Fund Managers
Managers of venture capital and private equity funds – who in general must ensure compliance with sanctions regimes to which they are obligated to comply – need to pay special attention to recently strengthened requirements related to Russia and Belarus.
Evolving US, UK and EU Sanctions and Export Controls Target Russia for Ukraine Invasion
These measures affect companies with operations or business in Russia, Belarus and Ukraine, as well as companies that have taken or plan to take investment from these jurisdictions. The complexity of the measures assumes that companies have basic risk-appropriate sanctions and export compliance frameworks in place.