With hostilities underway in Ukraine, the United States and countries around the world are unveiling sanctions and other measures targeting Russia. Russian actions and the global response are already having a significant impact on individual companies and the world economy.
On March 3, AmCham China hosted a webinar “Sanctioning Russia: What You Need to Know.” The online event convened several experts to help explain the international sanctions and export controls that have been announced, those that might be around the corner, and what all of it means for the businesses of member companies.
The webinar was hosted by Ashwin Kaja, AmCham China General Counsel and Special Counsel at Covington & Burling, and included Stephen Rademaker, Senior Counsel at Covington & Burling and Fmr. Asst. Secretary of State; Benjamin Kostrzewa, Foreign Legal Consultant at Hogan Lovells and Fmr. Asst. General Counsel at USTR; Alexandre Lamy, Partner at Baker & McKenzie LLP; John Larkin, President at Larkin Trade International; and Geoff Jackson, Executive Director of AmCham China’s US-China Aviation Cooperation Program.
During the webinar, the speakers put the new sanctions and export control measures into context, observing that the US and its allies, including the UK and Europe, have acted together in an unprecedented manner in response to Russia’s actions. They noted that these efforts have been “turbo-charged” with not only US action, but also strong responses from the EU and G7 countries, and that the global community should prepare for the possibility of even harsher measures to come.
AmCham China will continue to inform our members about the implications of new policies as the situation evolves. Other related events this week included a detailed look at the export control actions taken (tailored for our Export Control Working Group) and a member briefing given by a senior US government official from the Bureau of Industry and Security (BIS). To keep up to date with all upcoming events and news, be sure to subscribe to our Weekly Bulletin.