EU Companies Grapple with Expiry of Russia Sanctions Carve-Out

EU Companies Grapple with Expiry of Russia Sanctions Carve-Out

April 23, 2024, Financial Times

David Lorello’s commentary was included in a Financial Times article exploring how European companies are attempting to come into compliance with a new EU sanctions provision that ends a carve-out permitting them to provide their Russian subsidiaries with professional services like accounting, management consulting and legal advice. David comments on how the move was diverting resources away from more meaningful sanctions compliance.

David Lorello told the Financial Times that regulators and companies could instead be focusing on countering Russian strategies to acquire restricted goods and conceal sanctioned assets.

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