News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Politics

Consulting exports to Russia fall 85% in wake of Ukraine war sanctions

Government crackdown hits the City’s professional services exports

Newly elected UK prime minister Keir Starmer has continued to express support for Ukraine’s president Volodymyr Zelenskyy
Newly elected UK prime minister Keir Starmer has continued to express support for Ukraine’s president Volodymyr Zelenskyy Photo: Carl Court/Getty Images

Consulting exports to Russia have fallen by 85%, and legal exports by 70%, since Vladimir Putin’s invasion of Ukraine.

In the first quarter of 2024, just £5m of professional and management consulting services were exported from the UK to Russia, according to data published on 26 July by the Office for National Statistics, down from £33m in the first quarter of 2022.

WSJ Logo