It’s been two years since the escalation of the ongoing conflict in Ukraine, which has led many companies with business operations or personnel in Eastern Europe to adjust, restructure, or exit locations in Russia. Meanwhile,...more
Decree 844, issued by the Russian president on November 8, 2023, marked the latest piece of legislation making up the so-named Russian countersanctions law. We have previously covered the rules set by Decree 844 for funds...more
A new law signed by Russian President Vladimir Putin allows changing the shareholding structures of Russian economically significant organizations whereby parent companies from “unfriendly states” will be removed from the...more
Russian President Vladimir Putin issued Decree No. 302, “On Temporary Management Over Certain Assets,” on April 25, authorizing the Russian federal agency for state property management—or any governmental agency the president...more
5/8/2023
/ Compliance ,
Corporate Counsel ,
Defense Contracts ,
Defense Sector ,
Federal Procurement Systems ,
Foreign Relations ,
Military Conflict ,
Military Contracts ,
Popular ,
Russia ,
Trade Relations
Russian President Vladimir Putin adopted Decree No. 16 on January 17, allowing Russian companies to change their corporate decision-making so that minority shareholders from the so-called “unfriendly states” (or those...more
Until recently, investors were not generally restricted in selling their (participatory) equity interests in Russian limited liability companies (LLCs). However, Russian President Vladimir Putin issued Decree No. 618,...more
Russian President Vladimir Putin issued a decree imposing an overall ban on transactions with certain assets, such as securities in certain Russian companies and interests in certain Russian investment projects, if these...more
The State Duma, Russia’s parliament lower chamber, adopted draft law No. 116264-8 on June 29, 2022, containing rules allowing the conversion of depository receipts into the underlying Russian shares without a need to go...more
Following previously adopted restrictions on payments of dividends in joint stock companies, Decree No. 254 requires that any dividend payment from a limited liability company to its foreign participant connected with an...more
Russian President Vladimir Putin issued a decree listing several retaliatory special economic measures against legal entities and individuals, as well as organizations controlled by them, to be designated by the Russian...more
The delisting of Russian issuers’ depositary receipts could potentially lead to a disproportional increase in sales of underlying shares in the Russian stock market and contribute to its volatility. In response to this...more
A new federal law in Russia prohibits Russian issuers from having their shares traded outside Russia via depositary receipts and requires issuers with existing programs to take delisting measures unless they receive a...more
The draft law on external management was submitted to the Russian Parliament and differs considerably from the previous version. The new draft provides for the establishment of a special interdepartmental commission that will...more
Russia proposed a draft federal law on April 8 amending article 235 of the Russian Civil Code, which would allow the compulsory seizure of assets in cases stipulated by federal laws, and containing rules about such compulsory...more
A draft law submitted for consideration to the State Duma—the lower chamber of the Russian parliament—would amend the Russian Criminal Code to make compliance with sanctions a criminal offense for directors and officers,...more
As another measure to support Russia’s financial market, Presidential Decree No. 126 imposes further limitations on cross-border monetary transfers for both Russian and non-Russian residents. However, Decree No. 126 also...more
Russia is considering introducing legislation that, if adopted, will have a dramatic impact on foreign-owned businesses and their strategies concerning Russia. The goal of the proposed law is to (1) warn foreign owners that...more
Russian authorities are taking measures on several fronts to support financial markets and keep liquid assets in Russia, including a new set of countermeasures introduced by President Vladimir Putin. Russia’s Central Bank is...more
3/3/2022
/ Central Bank of Russia ,
Countermeasures ,
Economic Sanctions ,
Financial Transactions ,
Foreign Currency ,
Foreign Policy ,
Foreign Relations ,
Foreign Trade Regulations ,
Russia ,
Ukraine ,
Vladimir Putin
President Vladimir Putin issued a decree, “On Special Economic Measures in connection with the Unfriendly Actions of the United States of America and Other Foreign Countries” (Decree), on 28 February. This is the first decree...more
Draft law “On Activities of Foreign Companies in the Internet in the Territory of the Russian Federation,” introduced to the State Duma, a lower chamber of the Russian parliament, on May 21, 2021, aims to extend Russian...more
Expectations for positive turns in many spheres of life, both commercial and social, have sprung at the arrival of COVID-19 vaccination. One of the popular questions is whether vaccination could change the current preference...more
The still evolving US sanctions (as well as the EU and now also separate UK sanctions) continue to challenge Russia-related business. The sanctions frameworks are complex, changing, and, at times, inconsistent as well as...more
3/23/2021
/ Bureau of Industry and Security (BIS) ,
CAATSA ,
Crimea ,
Economic Sanctions ,
EU ,
Foreign Policy ,
Infrastructure ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Russia ,
SDN List ,
UK ,
UK Brexit
In response to the coronavirus (COVID-19) pandemic, President Vladimir Putin authorized the heads of Russian regions to determine the lockdown rules depending on the epidemiological situation in a particular territory. In...more
In a dramatic move, Russia has enacted substantial amendments to its 1993 Constitution, effective 4 July 2020. The amendments affect many areas of Russia’s social and political landscape, including issues directly relating to...more
By President Putin’s signature on 8 June 2020, Russia has enacted a jarring new Law by which, as written, in a significant range of circumstances Russian individuals and companies (and foreign companies) that have been...more