Faegre Drinker Biddle & Reath LLP (JD Supra Russia)

On 8 March 2015, the President of the Russian Federation signed the Federal Law No. 42-FZ, “On amending the first part of the Civil Code of the Russian Federation,” which came into force on 1 June 2015. The changes are part of the big reform of the Russian Civil Code that is aimed to bring Russian law in line with the current business and legal trends and established practices.

Following a steady stream of sanctions by the U.S. and EU, Russia finally retaliated by imposing a ban on food imports. The one-year ban instituted on August 7, 2014, prohibits the importation into Russia of meat, fish, vegetables and dairy products from the U.S., EU, Canada, Australia and Norway.