On the night of April 15–16, 2026 alone, Russia sent hundreds of drones and missiles on sleeping cities across Ukraine, killing and injuring dozens of civilians. War is funded in part by individuals who have important artworks in their personal collections. This full-scale invasion of Ukraine, now in its fifth year, daily exacts a grave toll on Ukrainian lives and cultural heritage, while fundamentally disrupting European commerce. In response, art market participants have adapted their practices, most have accepted, if not always embraced, the need to scrutinize the source of funds and the ultimate beneficiaries of their transactions. Yet there is a growing sense that parts of the trade are holding their breath, waiting to see when they might safely return to dealing with the oligarchs who continue to fund the Russian war machine.
For art market participants operating in the UK, compliance is no longer a peripheral concern, it is a legal imperative. Regulators are watching, the consequences of non-compliance increasingly extend beyond administrative penalties into criminal liability, and private-public partnerships offer the most credible path toward a more resilient and trustworthy market.
SPEAKERS
- Raminta Dereskeviciute Partner, McDermott Will & Emery Sanctions, Export Controls & ESG, UK
- Rakhi Talwar Independent Compliance Consultant, Art & Luxury Sectors, UK
- Yuliia Hnat, Co-founder & Director of Development, Museum of Contemporary Art NGO, Ukraine
- Timothy Kompanchenko, Co-Founder & CEO, Bernard, USA
- Irina Tarsis, Founder & Managing Director, Center for Art Law, US/CH – Moderating
We welcome this opportunity to hear from experts on the legal and technical tools available to art market participants navigating sanctions regimes and AML obligations. Optimistic as it may sound the morning after another monstrous attack on Ukraine, by taking money out of warmongers’ hands, we can help starve the war machine together.
Register now for online and in-person attendance at McDermott Will & Schulte.
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