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- 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.
- Morgan Lewis Spark | Q4 2021 (RUSSIAN)
Morgan Lewis Spark – это ежеквартальный обзор, освещающий нововведения и изменения российского законодательства, имеющие важное значение для компаний, работающих в российских секторах энергетики и добычи полезных ископаемых. Мы надеемся, что он послужит вам полезным инструментом, чтобы сориентироваться в этих событиях. В течение 2021 года Россия значительно продвинулась в развитии законодательства, связанного с энергетическим переходом, переходом к устойчивому развитию и охраной окружающей среды. Так, в России был принят первый в истории закон об ограничении выбросов парниковых газов и концепция развития водородной энергетики. Также заложена основа для внедрения «зеленого» финансирования и других форм поддержки проектов и инициатив в области устойчивого развития, при этом продолжалось развитие регулирования в области стимулирования производства возобновляемых источников энергии. Помимо нововведений в энергетической и природоохранной областях, также произошли существенные изменения в законодательстве РФ в области традиционной энергетики, а именно внесены существенные поправки в Закон о недрах, продолжается работа над внедрением в законодательство соответствующих изменений. Please see full Publication below for more information.
- Morgan Lewis Spark | Q4 2021 (ENGLISH)
Morgan Lewis Spark is a quarterly update highlighting new and amended Russian legislation of importance to companies operating in the Russian energy and mining sectors. We hope it provides you with a useful tool to navigate these developments. Over the course of 2021, Russia made signifcant strides developing its legislation in the areas of energy transition, sustainable development, and environmental protection. Notably, Russia adopted its frst-ever law on greenhouse gas emissions and the hydrogen development framework. It also established the foundation for the introduction of “green” finance and other support for sustainable development projects and initiatives, while continuing to develop its regulations incentivizing renewable power production. In addition to new energy and environmental developments, Russia also made signifcant changes in its conventional energy legislation, introducing major amendments into the Subsoil Law and continuing to develop regulations aimed at implementing such changes into the legislation. Please see full Publication below for more information.
- Russian Legal Update - February 2012
In This Issue: p1 WTO Membership Will Provide Needed Boost to Investment Climate in Russia p3 UPDATED – Russian Foreign Strategic Investments Law: a Step Forward on the Way to Liberalization or a Decorative Dash? p5 Legislation to Increase the Protection of Creditors in...
- September 2012: Russia Litigation Update
Overview: Dispute resolution through international arbitration is rapidly developing in Russia, although not quite at the pace set by the leading international arbitration centers of Europe, such as London, Paris, and Stockholm. All the basic pieces are in place: the Russian Federation is a party...
- CIS Legal Update - May 2013: Measures Taken to Strengthen Russian Anti-Corruption Laws
Despite Russia’s reputation for corruption, the anti-bribery climate in Russia is evolving. A recent flurry of anti-bribery legislation, as well as Russia’s ratification of the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions in February...
- Justin Rose And Barry Vitou-Two Winning Brits
Last week Barry attended and presented on a (large) at the St. Petersburg International Law Forum about corruption....
- Liability Of A Company's Officers
On 30 July 2013 the Plenary Session of the Supreme Commercial Court of the Russian Federation adopted Resolution No. 62 “On Certain Matters of Indemnification of Damages by Members of a Company’s Governing Bodies.” In this Resolution of the Plenary Session, the Supreme Commercial Court (the “...
- CIS Legal Update - September 2013: Notifications No Longer Required for Certain Economic Concentration Transactions in Russia
Despite having been amended twenty times to date, Federal Law No. 135-FZ: "On Protection of Competition" dated July 26, 2006 (the "Competition Law"), passed in July 2006 with the aim of effectively regulating monopolistic activity and eliminating unfair competition, still contains a number of...
- Public-Private Partnerships, Putin Style
The 2014 Winter Olympics in Sochi, Russia is just around the corner. It will be the most expensive Olympics in history costing an estimated $51 billion. By way of comparison, the 2012 Summer Olympics in London cost just $15 billion. The price tag is even more jaw dropping when one...
- Accrual and Payment of Interest on Creditors’ Claims in Insolvency: The Plenary Session of the Russian Supreme Commercial Court Made the Clarifications
This issue considers the most important provisions of the resolution adopted at the Plenary Session of the Supreme Commercial Court of the Russian Federation (the “SCC”) No. 88, dated 6 December 2013, “On Accrual and Payment of Interest on Creditors’ Claims in Insolvency” (the “Resolution”). The...
- Russian Hackers Reportedly Obtain Internet Credentials of More Than 500 Million Users
On August 5, The New York Times reported that Russian hackers have obtained what could be the largest collection of confidential data in history. The security firm that discovered the breach continues to alert affected companies to possible exposure. Although the hackers remain anonymous, affected...
- Why Russia's corruption problem is also INTERPOL's problem
INTERPOL has received improper requests for Red Notices from Russia in the past, and all current indicators point to a worsening of the situation rather than an improvement....