Publication
Global Connection – The Russian-Ukraine Conflict: Expanding Export Restrictions in the Energy Sector
By Brett W. Johnson and Mary Colleen Fowler
The Russian Federation’s intensifying war efforts across Ukraine prompted the U.S. government to announce that it will implement a ban on Russian oil and gas imports. Under the ban, the U.S. will not import “Russian crude oil and certain petroleum products, liquefied natural gas, and coal.” It also forbids U.S. companies’ investment in the Russian energy sector and financing that enables foreign companies making investments in Russia’s energy sector. As the new sanctions are broad in scope it is likely that the U.S. and European Union will only expand economic sanctions to equal those imposed historically on Iran, Iraq, and North Korea. Companies may want to evaluate existing contracts related to Russian projects globally and potentially work to mitigate risks.
About Snell & Wilmer
Founded in 1938, Snell & Wilmer is a full-service business law firm with more than 500 attorneys practicing in 16 locations throughout the United States and in Mexico, including Los Angeles, Orange County and San Diego, California; Phoenix and Tucson, Arizona; Denver, Colorado; Washington, D.C.; Boise, Idaho; Las Vegas and Reno, Nevada; Albuquerque, New Mexico; Portland, Oregon; Dallas, Texas; Salt Lake City, Utah; Seattle, Washington; and Los Cabos, Mexico. The firm represents clients ranging from large, publicly traded corporations to small businesses, individuals and entrepreneurs. For more information, visit swlaw.com.
