Amid the tension between Russia, the EU and the US over Ukraine international law firms continue keeping themselves busy advising Russian companies on big cases and global transactions.
Yesterday morning a Russian publicly-traded company Eurasia Drilling Company agreed with members of its management team a big merger. The project gathers top lawyers from different international law firm for at least until the end of February when the deal is expected to close.
The size of this merger means that, whilst sanctions might be affecting global trade, there are still opportunities for business and lawyers in Russia.
The move represents an unusually large investment by US-listed company Schlumberger in Russian headquartered EDC during a period of rising tensions between Moscow and the US, and will play a large role in the development of Russia's oil industry after the completion. This follows the reduction in oil prices by half since last summer which is set to bring increased consolidation in the oil and gas sector.