The truth is rarely pure and never simple. But in the case of Russia's military operation in Ukraine, it just might be. Russia breached Article 2(4) of the UN Charter, which prohibits the use of force against the territorial integrity or political independence of any state. Russia's acts have prompted the EU, the UK and the US to impose economic sanctions, such as freezing assets and disconnecting Russian banks from the SWIFT international payments network. Whilst the number of private businesses that are halting their activities in Russia is steadily growing, Russia has adopted a law paving the way for expropriations of assets of foreign firms that leave the country following economic sanctions. But what can foreign companies do if Russia proceeds to take their assets, if they are unable to freely transfer returns from investments out of Russia or if their profits collapse?

Baker McKenzie and DLA Piper have joined the plethora of firms announcing their exit from the Russian market.

Debevoise & Plimpton, Dentons, Dechert, and CMS have announced they are closing their Russian offices and exiting the market.

Baker Botts, Bryan Cave Leighton Paisner, Hogan Lovells, and White & Case have announced they are closing their Moscow offices and exiting the market.

Allen & Overy, Clifford Chance, Herbert Smith Freehills, Squire Patton Boggs, and Winston & Strawn have confirmed they are exiting Russia.

Eversheds Sutherland and Morgan Lewis have confirmed they will no longer have a presence in Russia.

Freshfields Bruckhaus Deringer, Latham & Watkins, Mannheimer Swartling, and Gowling WLG have joined the ranks of firms announcing they are shutting down their Russian offices.

Russia’s invasion of Ukraine represents one of the worst security crises in Europe. It is also expected to have far-reaching implications for the global economy, particularly given Russia’s role as the world’s second-largest producer of natural gas. Sanctions will mean higher energy prices in Europe.

Norton Rose Fulbright has announced it is "winding down [its] operations in Russia and will be closing [the] Moscow office as quickly as [possible], in compliance with professional obligations."

Linklaters and Borenius have announced they are closing their Russian offices in Moscow and Saint Petersburg, respectively, while the two London-based Partners of Russian firm Ivanyan and Partners have announced they are resigning from the firm and the office will be closed.

Former Bryan Cave Leighton Paisner Counsel Evgeny Oreshin has joined Eversheds Sutherland's Russia office as a Partner in its Dispute Resolution practice.

With the economy returning to pre-pandemic levels, and digital transformation being a priority, Russia is on the right track for a good 2022, according to Liniya Prava Managing Partner Dmitriy Chepurenko.

Rybalkin, Gortsunyan & Partners has advised the Etalon Group on its acquisition of an Ekaterinburg site for a 1.5 million square-meter residential development project.

Bryan Cave Leighton Paisner has successfully defended the interests of PJSC VimpelCom in the first instance in a dispute regarding the recovery of antimonopoly damages.

Former Beeline Russia Head of Regional Compliance Officers & Compliance Investigations Ekaterina Kokareva has joined Ozon.ru as the company's Compliance Director in Moscow.

Egorov Puginsky Afanasiev & Partners, working with Kromann Reumert, has advised A4 Agri and S.A. Christensen & Co on the sale of shares of SAC’s Russian subsidiary to American dairy manufacturer BouMatic.

Nektorov, Saveliev & Partners has represented the Zhefu Holding Group before the Amur Oblast Arbitration Court in a case related to the recognition and enforcement of a Beijing Arbitration Commission decision.

Bryan Cave Leighton Paisner has advised a consortium including the Mubadala Investment Company and Sberbank Investments on its investment in IXcellerate. Herbert Smith Freehills reportedly advised the IXcellerate Group.