Aleksey Shtivelman, an International Dispute Resolution partner in the Miami office of Shutts & Bowen LLP, recently appeared as a guest on the Brian Mudd Show, NewsRadio 610 WIOD.
During the interview, Aleksey spoke to Brian Mudd about the real estate market and how the situation in Ukraine has impacted the U.S., including sanctions and investment.
“I believe the impact we’re seeing now is that a lot of Russians are potentially interested in selling some of these assets before the U.S. implements additional sanctions,” Aleksey states. “Now, these sanctions that we have implemented thus far – the United States – it seems like they are targeted at specific individuals and specific entities, so at this stage perhaps there are no immediate risks to some of these other individuals and their companies in holding these real estate assets. But I think people are afraid given Biden’s recent address, where he said ‘We’re going to be seizing your yachts, your luxury apartments and your private jets.’”
Additionally, Brian asked if individuals were still trying to figure out the outcome. Aleksey said “I think one idea could be that people from Russia or from Ukraine might want to invest more in South Florida real estate because as the ruble goes down and as their countries are at war perhaps they can see that U.S. properties could be a safe haven for those funds and for their assets especially as South Florida real estate has continued to grow in the recent times.”
About Aleksey Shtivelman
Aleksey Shtivelman is a partner in the Miami office of Shutts & Bowen LLP, where he is a member of the International Dispute Resolution Practice Group. Aleksey focuses his practice on counseling companies and individuals doing business across borders. He specializes in complex dispute resolution, commercial arbitration, and international litigation, including simultaneous proceedings in multiple jurisdictions, such as the United States, United Kingdom, British Virgin Islands, Ukraine and Russian Federation. Originally from Odessa, Ukraine, he is a native Russian speaker, fluent in Spanish, and adeptly represents clients who conduct business in those languages. Aleksey has been recognized as one of South Florida’s “Most Effective Lawyers” by the Daily Business Review in the Business/Complex Litigation category and as a Rising Star by Super Lawyers.