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In the News Press Release

David Newman Discusses Influx of Russian Money to U.S. with The Guardian

Publisher: The Guardian
March 27, 2013

Commercial Litigation partner David Newman is quoted on the changing investment strategies of Russian oligarchs and demi-oligarchs in a March 27 article in The Guardian, "Next stop New York: wealthy Russians hurry money from Cyprus to US." The article notes that Russian money has recently begun to flow into the U.S., and particularly New York, as a safe haven from both political upheaval in Russia -- David said that, "In Russia, whether you're friendly with the government is a very important thing, and that changes like the wind changes" -- and economic turmoil in Europe, most recently the crisis in Cyprus. While much of the new investment seems to be in real estate, David tells The Guardian that, "They are very wary of outsiders and it's difficult to get information. In terms of their advisers, they hold them close to the vest."

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