Sidley Austin, Venable Drop Russian Bank Clients Amid Sanctions

Law firms Sidley Austin and Venable said Friday they severed ties with two Russian banks facing new sanctions following the military invasion of Ukraine.

Venable withdrew from its role lobbying the U.S. government for Sberbank, a firm spokesperson confirmed. The law and lobbying firm billed the bank $240,000 for “monitoring new administration sanctions” and other work, according to federal disclosure filings.

Sidley Austin is dropping VTB Group as a client, a firm spokesperson said. The firm previously lobbied for the bank and represented it in court, according to federal disclosures and docket filings.

Both Russian-owned banks are subject to sanctions ...