In The News

War of Attrition

Asia Business Law Journal

15 Mar 2022

Morrison & Foerster partners John Smith and Chen Zhu were quoted in an article “War of attrition”, published by Asia Business Law Journal on March 15, 2022.

According to the article, the international legal community has condemned Vladimir Putin’s regime not just with words, but by boycotting Russian business and transactions as Russia’s invasion of Ukraine continues.

“I don’t think the Russian government was expecting the EU, US, UK and a number of other countries to agree to freeze assets of the Russian central bank – almost half a trillion dollars held around the world,” commented by John.

“Stocks have fallen by up to 90% and the Moscow stock exchange has been closed for several days. Also, international energy market companies are scrambling to reassess their existing business with Russia, Belarus and Ukraine,” Chen added. 

Read the full article.

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