Get Ready for the Russia-Ukraine-Sanctions Fire-Drill

Stressful legal fire-drills are one of the main reasons Catylex exists.

Stressful legal fire-drills are one of the main reasons Catylex exists.  Not because we like them.  Quite the opposite.  We hate fire drills.  The mad scramble to answer important questions about some hot issue looming over the business we serve.  The long hours searching, reading, and summarizing information scattered across hundreds or thousands of contracts.  The fear that you missed something. 

Just as we’re all getting over the Pandemic fire-drill – searching for Force Majeure and other terms that helped everyone understand the legal impact of Covid-19 – along comes the invasion of Ukraine and an evolving set of economic sanctions to trigger yet another fire-drill.  Do we have customers or suppliers in Ukraine?  Do we have customers, suppliers or other dealings in Russia, or controlled by Russian entities?  What about Belarus?  Will sanctions affect us or other key players further down our supply chain?  Which contracts prescribe or permit payment in rubles? 

Just like the global financial crisis, Brexit, and a long list of disasters, crises and regulatory changes before it, the invasion of Ukraine is yet another example where lawyers and paralegals will be speed-reading contracts to assess how their business is impacted and what rights, remedies and obligations may be triggered by the unfolding crisis. 

We can't prevent this crisis or the next, but we can make the impact of any crisis much less like a fire-drill.  If you’re now tasked with scouring thousands of pages of contracts, trying to understand how the crisis in Ukraine affects your business, Catylex is here to help.  Our Contract Analytics platform will provide many of the answers you need in a fraction of the time.  We may not eliminate every reading task, but we will make the whole exercise far less painful and far more effective.


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