Magic circle firm Linklaters will close its Moscow office and ‘wind down’ all of its operations in Russia, the practice announced last night in response to the invasion of Ukraine.
The firm, which opened its office in the Russian capital in 1992, said it will ‘continue supporting our people there in the process, doing all we can to help them transfer to new roles within Linklaters or otherwise’.
‘We will not act for individuals or entities that are controlled by, or under the influence of, the Russian state, or connected with the current Russian regime, wherever they are in the world,’ a spokesperson said.
‘We will wind down existing work in accordance with our legal and professional obligations. We will continue to assist international clients in dealing with the implications of the current crisis and in unwinding their Russian business interests.’
The decision follows announcements from several leading firms, with CMS Cameron McKenna Nabarro Olswang saying the future of its Moscow office is ‘under critical review’ while Osborne Clarke will not take on ‘new clients that are owned by Russian or Belarusian individuals, corporations or by their governments’.
Herbert Smith Freehills also said it will no long act for ‘certain of our Russian clients and on certain Russia-related work’ and Mishcon de Reya said it has ‘reviewed all existing mandates relating to Russia’.
However, Mishcon emphasised that it will continue to act for unsanctioned Russian clients ‘because we have not, nor ever will, discriminate based on nationality or anything else’. A spokesperson for the firm added: ‘Some of our Russian clients are themselves the target of President Putin’s government.’
All four other members of the magic circle have now made public statements in response to the conflict, with Clifford Chance saying yesterday that it will not accept new work from Russian state-controlled entities or individuals linked to Vladimir Putin.
Allen & Overy said earlier this week that it is ‘reviewing our Russia-related portfolio’ and would refuse new instructions and stop all work ‘that goes against our values’, while Freshfields Bruckhaus Deringer said various client arrangements had been ‘terminated, suspended or declined’.
Slaughter and May said it will ‘continue to review our position to ensure we comply fully with sanctions applied to Russian entities and individuals’, and firms including Eversheds Sutherland, White & Case and Baker McKenzie have also said they are reviewing client relationships.
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