Christopher Swift Discusses the Ban on Russia’s Gold Imports

Foley & Lardner LLP Partner Christopher Swift was quoted in The New York Times article titled, “What the ban on Russia’s gold imports means for its increasingly isolated economy,” discussing the United States’ announcement that they will ban the purchase of newly mined and refined gold from Russia and the effectiveness of this measure.

Swift commented on the nature of these sanctions saying, “Fundamentally this is an incremental tightening of the sanctions rather than a significant escalation.” He continued stating that “If your goal is to undermine Russia’s economic ability to wage war in Ukraine, this is a necessary but not sufficient measure.” In reference to next steps, Swift noted that “If the G7 wants to have a strategic effect, then they really need to think about what they’re going to do about Russian gas.”

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As the Russia-Ukraine war continues, so too do new business and legal implications for companies around the world. For more information on how to mitigate risk and protect your business, contact a Foley lawyer today.