Clifford Chance will not accept new work from Russian state-controlled entities or ‘individuals identified as having close connections to President Putin’ as it reviews all of its existing Russia-linked work, the magic circle firm announced today.

It became the latest leading firm to announce a review of existing Russian clients after City firm Eversheds Sutherland said it is currently ‘finalising an extensive review of our existing client work’, as well as reviewing its new client acceptance procedures.

Clifford Chance said: ‘We will not accept new mandates from any Russian state entity, Russian state-owned enterprises or individuals identified as having close connections to President Putin.

‘We will review all existing and new mandates relating to Russia, or where there is a connection to Russia, to ensure that our work remains consistent not only with the letter and the spirit of the international sanctions but also with our responsible business principles and values.’

A spokesperson for Eversheds said: ‘Our work is centred on advising multinational clients on their affairs relating to or in Russia and we can confirm that we are not acting for the Russian government or Russian state-controlled entities, nor are we acting for oligarchs.

‘We are in full compliance with all applicable sanctions worldwide and, through our internal processes and controls, we are alerted to any requests for advice from Russian entities which we intend to decline.’

Clifford Chance and Eversheds join an ever-growing list of leading firms which are considering dropping Russian clients or have terminated agreements in response to Russia’s invasion of Ukraine, which now includes all five in the magic circle.

Allen & Overy said earlier this week that it would be ‘reviewing our Russia-related portfolio’ and would refuse new instructions and stop all Russian-linked work ‘that goes against our values’.

Freshfields Bruckhaus Deringer revealed that various client arrangements had been ‘terminated, suspended or declined’, while Slaughter and May said it will ‘continue to review our position to ensure we comply fully with sanctions applied to Russian entities and individuals’.

International firm Ashurst has decided not to represent any new or existing Russian clients, whether or not they are subject to sanctions, and other top firms, including Linklaters, White & Case and Baker McKenzie, have said they are reviewing client relationships. Russian law firm Ivanyan & Partners is also closing its London office.

There has been mounting pressure on law firms to cut ties with Russia following its invasion of Ukraine, with Conservative MP Bob Seely telling the House of Commons this week that the English legal system had become ‘corrupted’ by Russian money and influence.

Boris Johnson warned at prime minister’s questions on Wednesday that lawyers who ‘advance the interests of Putin’s war machine … will pay a price’, while foreign secretary Liz Truss has blamed ‘London law firms’ for delaying efforts to sanction Russian oligarchs.

However, the Law Society has supported firms representing Russian clients and in particular those working to ensure sanctions imposed by the UK government are lawful.

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