Firm News & Events

Barnes/Richardson Partner Quoted in Ria Novosti Article

April 8, 2013

On Friday, April 5, 2013, Ria Novosti, the Russian National News Agency, published an article outlining how the Magnitsky Act could put Russian officials at odds with a Kremlin decree.  The Kremlin, in what it has labeled an attempt to reduce corruption, ordered Russian officials to liquidate all foreign bank accounts by July 1, 2013.  Officials targeted by the Magnitsky Act could have to ask for permission from the U.S. Treasury Department to liquidate their accounts in compliance with the mandate.  Barnes/Richardson partner Cortney O’Toole Morgan was quoted in the article, commenting on the procedures the U.S. government uses when freezing targeted bank accounts.  The article is available here.