08
Mon, Aug
77 New Articles

Severing Russian Ties: Debevoise, Dechert, Dentons, and CMS Announce Russian Exit

Severing Russian Ties: Debevoise, Dechert, Dentons, and CMS Announce Russian Exit

Russia
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Debevoise & Plimpton, Dentons, Dechert, and CMS have announced they are closing their Russian offices and exiting the market.

"Based on a careful review, we have decided to wind down our office in Moscow," a Debevoise spokesperson said informing that "current circumstances" have led the firm to conclude it is no longer tenable to operate in Russia and the firm will wind down its office in Moscow that was first opened in 1997. "We continue to hope for peace and an end to the violence in Ukraine," they concluded.

Dentons too announced it is to begin exiting Russia and separating from its offices in Moscow and Saint Petersburg, which will operate as an independent law firm. "This is a difficult decision which we have taken in full consultation with our colleagues in Russia in order to continue meeting our legal and ethical obligations," commented Dentons Global CEO Elliott Portnoy. "We have enjoyed more than 30 years of collaboration and friendship with our colleagues in Russia who bear no responsibility for this crisis nor for the circumstances that have led to this decision. Our hope is that at a future time we will be able to come back together when it is lawfully and practically possible to do so."

"We stand with the people of Ukraine and have done everything in our power to assist our Ukrainian colleagues, their families, and other civilians displaced by the war," added Dentons Europe Region CEO Tomasz Dabrowski. "We share the news of our separation process from our offices in Moscow and Saint Petersburg with deep regret.  We will support our 250+ colleagues in Russia in achieving a smooth and orderly transition in accordance with our professional obligations to our clients."

“We remain deeply concerned about the appalling situation and humanitarian crisis in Ukraine," a Dechert spokesperson said. "After careful consideration, we have decided to close the Moscow office. We thank our team for all their contributions and will support them through this transition, including relocation assistance where possible.”

"We have been through a lot during our 30 years in Russia," read a CMS press statement announcing that "a difficult decision has been taken by CMS to leave the Russian market," with the 80-strong local team to stay in Moscow and operate under a new identity to be announced later.

With the four, the total number of firms announcing or confirming their exit from the Russian market is now 22. The previously announced exits are: