Russian firms turn their focus to the East in the wake of sanctions

Our upcoming special report on Russia, which will appear on 24 November, will focus on the impact of the sanctions imposed against and by the country in the wake of the Ukrainian crisis.

That impact, coupled with the importance of Asia as an investment market, is prompting law firms to look to new markets for work. One example is Pepeliaev Group, one of the larger independents in Russia, which is set to open offices in the ‘far east’ of the country.

Pepeliaev is setting its sights on closer relationships with South Korea and Japan through its planned openings in Vladivostok and Yuzhnosakhalinsk. The new offices add to the firm’s existing presence in Moscow, St Petersburg and Siberia but potentially open the door to a wealth of clients happy to put money into Russia.

Meanwhile across the border in Kazakhstan, the sanctions are having a happy result. Kazakh lawyers report that investors looking for opportunities in the CIS region are turning to their jurisdiction instead of Russia, resulting in an uptick in work – and proving the point that someone always benefits from a crisis.

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