Partner Giovanna Cinelli is quoted in an Anti-Corruption Report article on the impact of Executive Order 14114, which allows the United States to sanction foreign financial institutions involved in transactions connected to Russia’s “military-industrial base.” Giovanna said a noteworthy aspect of the executive order is the combined, coordinated enforcement among the US and other countries.
“One big distinction, from the compliance perspective, is that clients no longer see [the requirements] as siloed,” Giovanna said. “It is not just U.S. law, but 35 different jurisdictions that have some restrictions.”