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European banks' bid to protect their business in the face of Sanctions Freeze

Jonathan Fisher QC has been quoted today in a Reuter’s article regarding recent news on Russia’s Sanctions freeze.

A small group of European banks are trying to refinance existing loans to big companies in a bid to protect their business following recent sanctions that have frozen international lending to Russia.

Jonathan commented, "From a legal perspective, US and UK operators, banks and other companies, are going to be particularly cautious".

The financial battle between Russia and the West has imposed a bureaucratic nightmare, forcing banks to scrutinise every single payment made through their Russian subsidiaries to ensure they are in compliance.

However, some European bankers are persevering, trying to convince their banks' credit committees to give them the go-ahead for loans to help their customers refinance their debts.

To read the full article on Reuters click here.

Jonathan is ranked as one of the UK’s leading barristers in the area of banking and financial services and is noted by the Legal Directories as having great experience in cases involving economic sanctions.

Jonathan can be contacted to discuss any of the issues raised in the article at fisher@devchambers.co.uk

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The views expressed in this article represent those of the author and not Bright Line Law.

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