Ryan Fayhee Discusses Russian Sanctions Program with WorldECR
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WorldECR has quoted Akin international trade partner Ryan Fayhee in its article “Above and beyond Group think.” For the article, the publication interviewed a number of legal practitioners from around the world to discuss the global coordination of sanctions against Russia.
Speaking as the U.S. representative, Ryan discussed some of the challenges faced by companies at the start of the Russian sanctions program, noting that U.S. and European companies needed to quickly exit the country and sought guidance on how to “divest those operations, abandon them, go through managed buy-outs,” while also complying with rapidly changing regulations.
At present, Ryan noted that companies are focused on protecting themselves from diversion schemes. He said, “It is important to be vigilant, to do due diligence on new counterparties, particularly if they arise out of the blue in the Commonwealth of Independent States.”
