JD Supra Russia

JD Supra
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Latest documents

  • Russian counter-sanctions: New requirements for state approval for sale-purchase of interests in limited liability companies. Sanctioned Russian banks now permitted to convert customer FX deposits into Rubles.

    On September 8, 2022, RF Presidential Edict No. 618 On the Special Procedure for Conducting (Performing) Certain Types of Transactions (Operations) Amongst Certain Persons (Edict 618) entered into effect. Please see full Publication below for more information.

  • “Fifth Antimonopoly Package” sent to State Duma

    After several years of discussion with various governmental authorities, business representatives and the expert community, the so-called “fifth antimonopoly package” has been submitted to the State Duma for consideration. It is a draft law amending Federal Law No. 135-FZ on Protection of Competition of July 26, 2006 (the “Competition Law”) (hereinafter the “Draft Law”). Please see full Publication below for more information.

  • Ministry of Industry and Trade approves list of goods for importation to Russia without right holder’s consent

    Ministry of Industry and Trade Order No. 1532 of April 19, 2022, which approved a list of goods and groups of goods for which parallel import to Russia is authorized (the List), entered into effect on May 7, 2022. Please see full Publication below for more information.

  • New May 2022 Russian Counter-Sanctions: Key Points

    On 3 and 4 May 2022, the Russian President adopted two key edicts. The edicts clarify the application of certain provisions from prior presidential edicts (Nos. 81 and 95) and introduce new counter-measures against so-called unfriendly states... Please see full Publication below for more information.

  • Russian issuers ordered to wind down depositary receipts programmes

    On 1 April 2022, a draft law (the Draft Law) prohibiting placement and circulation of depositary receipts representing shares of Russian issuers (DRs) and requiring Russian issuers to terminate their DR facilities was published on the State Duma website, which, if/when adopted, would bring an era of Russia-based companies tapping international equity capital markets through DR issues to an end. Please see full Publication below for more information.

  • Russian Government acts to introduce bankruptcy moratorium

    Readers will recall, on April 1, 2020 the RF President signed RF Law No. 98-FZ, amending RF Law No. 127- FZ On Insolvency (Bankruptcy) of October 26, 2002 (the Law) and authorising the Government to impose a moratorium on creditors’ initiation of bankruptcies to stabilize the economy in exceptional cases (a Moratorium). Please see full Publication below for more information.

  • Russian counter-sanctions: Temporary procedure for repaying debt to foreign creditors

    On March 5, 2022, Russia’s Edict No. 95 On Temporary Procedures for Discharging Obligations to Certain Foreign Creditors (Edict 95) entered into immediate effect. Russian authorities have thus temporarily changed how Russian debtors may discharge their obligations to creditors. Please see full Publication below for more information.

  • Global Connection - Russia Permits Patent Misappropriation From Unfriendly Countries

    On Monday, March 7, 2022, the Russian government announced that compensation would not be required when Russian entities infringe patent rights from "unfriendly" countries. This unilateral action by Russia may have a significant impact on the current multilateral protections provided by international law and bilateral treaties. Companies should consider evaluating the impact of the decision, whether it may be replicated by other countries, and potentially take proactive steps to protect intellectual property. The list of impacted – or unfriendly countries – includes those jurisdictions that have taken active steps to economically protest the Russian invasion of Ukraine, namely: the 27 EU member countries, Australia, Canada, Iceland, Japan, New Zealand, Norway, Singapore, South Korea, Switzerland, Taiwan, the United Kingdom, and the United States. Please see full Alert below for more information.

  • Russia's sanctions (capital controls) countermeasures: key points

    On February 28, 2022 and March 1, 2022, the Russian Federation President adopted the following edicts setting out economic measures aimed at responding to recent international sanctions pressure on the Russian ruble due to the current situation in Ukraine: (a) RF President Edict No. 79, On Special Economic Measures in Connection with Adverse Actions of the United States and Foreign States and International Organizations That Have Joined Them, dated 28 February 2022 (Edict 79); and (b) RF President Edict No. 81, On Additional Temporary Economic Measures to Ensure Financial Stability in the Russian Federation, dated 1 March 2022 (Edict 81). Please see full Publication below for more information.

  • Sanctions Update: EU, UK, and Japan Impose New Sanctions and Export Controls Relating to Russia

    New rules significantly expand the scope of existing sanctions on Russia and impose extensive new export controls. This Client Alert is published in the context of fast-moving developments and should be read in conjunction with the Latham & Watkins Client Alert published on 25 February 2022. Significant additional measures are expected to be introduced in the coming days. Please see full Alert below for more information.

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