Jan 20 (Reuters) – US law firm Crowell & Moring said Monday that it has hired a former US Treasury Department lawyer who played a key role in designing and implementing economic sanctions imposed on Russia following its invasion of Ukraine last year.
Jason Prince, who served as chief counsel to the Treasury Department’s Office of Foreign Assets Control (OFAC), joined the firm as a partner in its international trade and financial services practices in Washington, DC
Prince will advise clients on complying with the US government’s increasing use of sanctions and export controls against Russia and other foreign adversaries, the firm said.
Prince said Crowell’s international footprint and its white-collar and regulatory enforcement experience will be especially important as the US government expands its collaboration with European allies on enforcement enforcement.
“That’s going to continue and bleed over into the whole gamut of sanctions programs and won’t just be limited to Russia,” Prince said. “That will be a potential sea change in the years ahead.”
Washington-headquartered Crowell & Moring is known for its work on government contracts and regulation and has sought to grow its presence outside the United States in recent years.
The United States and other Western governments responded to Russia’s invasion of Ukraine with a raft of economic sanctions designed to cut Russia off from the global financial system.
Prince, who as chief counsel to OFAC oversaw the legal review of new sanctions packages, said the speed and scope of the measures were unprecedented for an economy of Russia’s size.
The sanctions led to a surge in legal work for law firms with expertise in international trade and national security issues as major international companies scrambled to cut ties with Russia.
“We’re moving into a phase now where all of those sanctions and export controls have been put in place, and the government will focus increasingly on making sure that they’re being complied with,” Prince said. “And it will do so through enforcement.”
Prince spent nearly three years as a lawyer at the Treasury Department. He previously worked at law firms Stoel Rives and Holland & Hart, where he also focused on sanctions issues.
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