The War Between Russia and Ukraine Could Lead to Class Action Lawsuits

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The Russian invasion of Ukraine on Feb. 24 set the wheels in motion for the largest ground battle in Europe since WWII and also opened the door for potential class action lawsuits here in the United States. 

Countries around the world responded to the escalation by imposing strict economic sanctions on Russia and its president Vladimir Putin, as well as members of his inner circle, ABC News reports.  

The sanctions, which include depriving Russia’s central bank from being able to access its foreign currency reserves, could ultimately have an impact on U.S. consumers, as well. 

Russia’s Invasion Results in Higher Gas Prices

Perhaps most notably, what makes the strength of Russia’s economy important to the world is the vast amount of oil reserves it possesses. 

The price of oil has increased by around 20% since the start of the invasion, CNN Business reports, with foreign buyers concerned about buying oil from Russia and tanker operators nervous to have their ships venture into the Black Sea. 

Major oil companies, including ExxonMobil, BP and Shell, have said they plan to abandon their Russian ventures, Business Insider reports. 

The volatility of the oil market and the spur-of-the-moment moves and decisions could end up affecting oil companies’ stock prices, and investors will surely be keeping an eye on the situation.

Just last month, investors targeted Exxon with a class action lawsuit alleging the company was dishonest in reporting its assets, causing its stock price to drop when the truth was ultimately revealed. 

All of this is also likely to lead to even higher prices at the pump for U.S. consumers who have already been paying record amounts, CNN Business reports. 

War Stretches Global Supply Chain Even Thinner 

The conflict is also exacerbating an already-stretched-thin global supply chain still attempting to recover from the effects of the COVID-19 pandemic. 

Futures for wheat, as one example, have spiked since the invasion with Russia and Ukraine combining to produce 14% of the world’s supply. 

Consumers, as is often the case, can expect to feel the brunt of this with foodmakers likely to pass on the higher costs to them. 

Businesses may want to be careful, however, as consumers can be notoriously finicky about what they are willing to pay and what they believe could be unlawful when it comes to the price of food. 

In 2018, for example, McDonald’s had to ask a federal judge to dismiss a class action lawsuit arguing the company should legally be required to lower the price of its Quarter Pounder if a customer chooses to order it without cheese. 

Several U.S. governors, including those in Utah, New Hampshire, Pennsylvania and Ohio, meanwhile, have even taken the unusual step of ordering liquor stores in their states to cease the sale of Russian vodka, iHeartRadio reports.  

Russia Can’t Fly in U.S. Airspace

Russian airlines won’t be seen flying around in U.S. skies with President Joe Biden announcing during his Mar. 1 State of the Union address that the country is closing its airspace to all Russian air carriers, the Washington Examiner reports. 

The move hurts Russia by cutting it off from well-traveled global aviation paths; however, the move could also end up leading to class action complaints in the United States. 

Airline passengers dealing with flight cancellations are no strangers to filing class action lawsuits against the carriers they feel inconvenienced them. 

In July 2020, British Airways had to fight back against claims the airline had failed to properly refund tickets for passengers who had their flights canceled due to COVID-19. 

Immigration Concern as Ukrainians Flee Country in Record Time

With more than 1 million Ukrainians reportedly already having fled the country since the start of the conflict, immigration policies are being hurriedly addressed. 

On Thursday, the U.S. Department of Homeland Security announced it would be extending immigration relief to Ukrainians citizens who are currently in the country as a form of humanitarian aid, CNN reports. 

Ukrainians in the United States, with the majority living in New York, are being given what is referred to as Temporary Protected Status, allowing them to stay in the country since being forced to return home would place them in danger. 

The treatment of immigrants is a closely watched subject when it comes to the potential for class action lawsuits. 

In 2018, for example, the U.S. Immigration and Customs Enforcement agency was the target of a class action lawsuit claiming it illegally targeted the spouses of immigrants. 

While it remains to be seen how things progress, immigration issues for both Ukrainian and Russian individuals either in, or coming into the United States, could end up playing a role in future class action claims. 

Russian Cyberattacks Could Target U.S. Amid Rising Tensions 

When it comes to Russia, cyber warfare is also a legitimate concern, with the country being near the top of the list of those who have pumped resources into increasing their hacking capabilities, reports The Washington Post. 

With tensions between Russia and other countries, including the United States, reaching a boiling point, the potential for retaliatory cyberattacks targeting U.S. companies and businesses is not out of the question. 

It also wouldn’t be the first time. Last year, a Russian hacking group breached the systems of the Colonial Pipeline, shutting down its operations and demanding a ransom. 

The move not only forced Colonial to temporarily shut down its pipeline, but also led to a class action lawsuit being filed against the company by consumers affected by the breach.

Consumers argued Colonial should have done more to secure its servers and should thus be required to reimburse them for the higher price for gas they had to pay on account of the breach. 

How do you believe Russia’s invasion of Ukraine could lead to a class action lawsuit? Let us know in the comments!

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