The March 16 vote by residents of the Crimea region of Ukraine to join Russia has prompted some strong international responses. Russian President Vladimir Putin responded by signing a treaty that officially annexes Crimea. In the U.S. and the European Union, Russia’s actions have prompted travel bans and asset freezes on several Russian officials. It’s not only an international political crisis, but also an evolving business crisis for many companies.
As tensions between Russia and the U.S. and EU over Ukraine continue, what should companies with employees in these countries or important business partnerships to protect be doing to stay out of trouble? According to a webinar presented by Fisher & Phillips titled “Russia and Ukraine: What Employers Need to Know and Do During Times of Crisis,” the current political climate means that it’s an appropriate time for those with business interests or employees in Russia to ensure that they are complying properly with the country’s regulations—especially in case the political situation leads to a regulatory crackdown.
