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Sept. 21, 2022

Unintended Consequences of Russia-Ukraine Sanctions: Blocked Del. Entities with Russian Co-Founders

By Arina Shulga, Jeffrey M. Kelly

Delaware Law Weekly

In an article published in Delaware Law Weekly, New York-based partner Arina Shulga and senior associate Jeffrey M. Kelly discuss the practical effects of Russian-Ukraine sanctions on American businesses, particularly in the state of Delaware, where many businesses that should not be subject to sanctions programs are prevented from operating until they either complete a lengthy appeals process or government agencies clarify their interpretation of the applicable sanctions.

“Russia’s invasion of Ukraine on Feb. 24 set into motion one of the largest geopolitical conflicts in recent memory. The United States and other Western countries promptly provided aid to Ukraine and implemented severe economic sanctions against the Russian Federation. As we are all experiencing human and economic impact even six months later, many unintended consequences are coming to light,” they wrote.