Some Western companies severed their ties with Russia on Friday, and others studied whether and how to do so, as President Vladimir Putin's invasion of Ukraine triggered sanctions and pressure to abandon some business dealings.
Some experts and attorneys said Western executives would seek to end commercial arrangements, even if they were not obliged to do so, to avoid public relations problems or the bureaucracy of trying to navigate sanctions in areas such as technology exports."What a lot of them will do is just drop any Russian customers.
"People should be thinking more and more about the moral issue, it’s not just a box-ticking exercise,” Smith said. Western banks and financial firms have been studying the practical implications of new sanctions, said several sources in the heavily regulated industries. Many details on how the sanctions will work need to be confirmed by the U.S. Treasury's Office of Foreign Assets Control and other international regulators, this source said. OFAC did not respond immediately to requests for comment.
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