German Zakharov and Roman Vedernikov spoke at the Pravo.ru conference “Legal Challenges and Opportunities in the Age of Sanctions”
March, 2024 - Moscow, Russia
On 14 March 2024 a conference on "Legal Challenges and Opportunities in the Age of Sanctions" organized by Pravo.ru was held.
German Zakharov, ALRUD Partner, acted as a moderator at the 3rd session: “Prevention and management of sanctions risks: current practice, national peculiarities of sanctions compliance”.
Roman Vedernikov, Senior Associate in ALRUD Antitrust Practice, spoke at the 3rd session on “Over-compliance in the sanctions environment: analysis of judicial approaches relating to the arguments of an aggrieved counterparty”.
Speaking on the topic, the expert defined the concept of over-compliance, its key factors, and also reviewed foreign court practice. Roman came to the following conclusion: “Foreign participants assess risks of legal and secondary sanctions exposure very high, sometimes even if the person is not actually subject to sanctions, and/or the parties to the transaction have no relation to the jurisdictions that imposed the sanctions. This leads to over-compliance that gives rise to greater discrimination. But legal proceedings in various jurisdictions suggest that there are some positive trends to a more balanced and unbiased approach”.
Read more (in Russian) about the event here.
