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NLJ this week: Oligarchs, confiscated assets & the future of Kyiv

24 March 2023
Issue: 8018 / Categories: Legal News , International justice , Sanctions , Rule of law
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Could seized sanctions assets be used to fund the reconstruction of Ukraine? It’s a fascinating question. 

In this week’s NLJ, Maria Nizzero writes that ‘policymakers have expressed increased interest in freezing, seizing, but also repurposing the sanctioned assets, including those of the so-called “oligarchs”, for the benefit of Kyiv’.

Nizzero, a research fellow at RUSI’s Centre for Financial Crime and Security Studies, points out, however, there are ‘inherent limitations’ in this plan, before setting out some of the complexities, obstacles and potential routes around the obstacles.

She writes: ‘Choosing to prioritise the strengthening of the sanctions regime is not a Sophie’s choice for policymakers: bolstering the response to sanctions evasion now does not imply that permanent confiscation of other Russian sanctioned assets cannot be achieved.’ 

Read more on this subject here.

MOVERS & SHAKERS

Freeths—Ruth Clare

Freeths—Ruth Clare

National real estate team bolstered by partner hire in Manchester

Farrer & Co—Claire Gordon

Farrer & Co—Claire Gordon

Partner appointed head of family team

mfg Solicitors—Neil Harrison

mfg Solicitors—Neil Harrison

Firm strengthens agriculture and rural affairs team with partner return

NEWS
Conveyancing lawyers have enjoyed a rapid win after campaigning against UK Finance’s decision to charge for access to the Mortgage Lenders’ Handbook
The Crown Prosecution Service (CPS) has launched a recruitment drive for talented early career and more senior barristers and solicitors
Regulators differed in the clarity and consistency of their post-Mazur advice and guidance, according to an interim report by the Legal Services Board (LSB)
The Solicitors Act 1974 may still underpin legal regulation, but its age is increasingly showing. Writing in NLJ this week, Victoria Morrison-Hughes of the Association of Costs Lawyers argues that the Act is ‘out of step with modern consumer law’ and actively deters fairness
A Competition Appeal Tribunal (CAT) ruling has reopened debate on the availability of ‘user damages’ in competition claims. Writing in NLJ this week, Edward Nyman of Hausfeld explains how the CAT allowed Dr Liza Lovdahl Gormsen’s alternative damages case against Meta to proceed, rejecting arguments that such damages are barred in competition law
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