Like yesterday’s post (see here), today’s post also looks at a current issue through the lens of the Foreign Corrupt Practices Act.
Russia’s invasion of Ukraine and the related response by many U.S. (and other) companies (many of them subject to the FCPA or related laws) doing business in Russia have been well-documented.
A recent Wall Street Journal article titled “Companies Weigh Risk of Asset Seizures” noted that more than 300 foreign firms have said they are leaving or temporarily suspending work in Russia. According to the article, some companies have simply walked away from its business while others “have kept the door open to an eventual return.” The article noted that McDonald’s has indicated that its move to close its 847 Russian restaurants is temporary, but that it will cost the company roughly $50 million a month.