MOSCOW—When the U.S. levied sanctions against scores of well-connected Russians in April, Russian lawyer Ilya Rybalkin had to make a choice: he either had to drop his biggest client, a now blacklisted billionaire, or give up his promising career at a prestigious American law firm and launch his own practice to represent him.
Mr. Rybalkin opted to strike out on his own. Eight months later, he said, his new business is thriving.
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