Source: Morrison & Foerster
After less than a week of a full-scale war between Russia and Ukraine, the post-Cold War global architecture appears irrevocably shattered, as Western nations line up to offer support and military and economic aid to Ukraine and a multinational sanctions response declares, in effect, economic war against Russia in response to its violent military assault on its neighbor. The purpose of these tough economic measures is to put pressure on Russia to cease the military aggression and, ideally, to return quickly to diplomacy and peace. Global companies are now left scrambling to ensure strict compliance with the tough new sanctions and export controls being imposed against Russia from all parts of the globe or face significant legal and reputational risk.
Led by the United States, United Kingdom, and European Union, and followed by the rest of the Group of Seven (G7) countries, which ejected Russia after its last major attack on Ukraine in 2014, the Western response, along with allies such as Japan, has involved an escalating series of actions over the course of the past few days that were almost unthinkable a week ago.
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