Azizur Rahman | 28 February 2022
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The barring of a Russian bank from trading on the UK stock market prompted Law360 to ask Aziz Rahman for his assessment of the situation.
The London Stock Exchange suspended trading in VTB Capital, the British subsidiary of Russia’s VTB Bank, following the UK government announcing sanctions on Russian interests due to the invasion of Ukraine.
Aziz said that the government’s sanctions represented a raising of the stakes, as they restrict the options for those who they are targeting.
He added: "Those who are subject to these sanctions have little or no scope for trying to function as they could prior to the invasion."
Aziz explained that the government’s actions could “could drive some individuals and their wealth out of the U.K., which would be ironic given the U.K.'s unwanted reputation for being a magnet for foreign dirty money."
Aziz's comments can be read in Law360. (Subscription required)
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