In response to the invasion of Ukraine, the UK and EU have swiftly imposed waves of sanctions against an increasing number of Russian entities and individuals. This has caused confusion and concern for construction and engineering companies involved in projects with a Russia dimension (in terms of client ID, financing or location). Within the past ten years, Russia has developed into an important market for construction opportunities. Despite that, guidance issued by Government bodies often fails to address the questions which construction and engineering companies have.
Their questions include:
- Can we be paid for services provided under a contract with a Russian client?
- Do we need to stop performing our contract? Could we be sued for suspension?
- Are we still insured for work carried out?
- What penalties could we face for breaching the sanctions rules? Are directors and employees at risk?
We know many construction companies feel left in limbo right now. Drawing on our experience of advising on the Russia sanctions rules, this Beale & Co webinar hosted by Paul Henty and Kathryn Willis will explain the application of the sanctions rules to the sector and deal with some of the FAQs which have been put to us by clients since the beginning of hostilities in Ukraine.
To register for the webinar please click here.