Legal Business

The Russia report: A new thaw?

Diving commodity prices and currency devaluation have put Russia and the CIS on ice, but Asian investment and economic sovereignty are reheating the legal market

If the mood of a city can be gauged by the bustle of its shops and restaurants, then law firms active in Russia and much of the wider CIS region should not be especially fearful. Björn Paulsen, co-head of German firm Noerr’s Moscow office, says despite the recent devaluation of the rouble coming amid prolonged economic turbulence, few tables are empty in the Russian capital’s top eateries. ‘The crisis has already reached the bottom and now the market is on the rise again,’ he says.