Orrick, Herrington & Sutcliffe LLP (JD Supra Russia)

President Biden issued a new Executive Order 14024 (“E.O. 14024”) on April 15, 2021, expanding sanctions against Russia. E.O. 14024 authorizes, for the first time, U.S. sanctions against Russian technology companies and, through Directive 1 thereunder, expands prohibitions on dealings relating to Russian sovereign debt.

In March 2021, three federal agencies promulgated international trade restraints as part of the Biden Administration’s response to alleged mistreatment of Russian opposition leader Alexey Navalny in 2020. Specifically, the Commerce Department’s Bureau of Industry and Security (“BIS”) imposed certain Russia-related export control restrictions ...

Building on prior extensive Russia-related sanctions, the U.S. government has further sanctioned Russia by intensifying controls on exports and reexports to the country. Alone, this step is unlikely to affect major volumes of U.S.-Russia commerce. However, possible additional sanctions could be much more far-reaching.

In response to the latest U.S. economic sanctions, Russia adopted a law that gives the Russian President a broad authorization to retaliate for foreign sanctions. However, while this law makes a political statement, it does not seem to create a significant change to the current regulatory situation.

The Russian parliament fast-tracks two bills that give the Russian President a broad authorization to retaliate for foreign sanctions and criminalize compliance with U.S. and other foreign sanctions against Russian parties.

On April 13, 2018, a Draft Law "On Retaliation Measures (Countermeasures) for Unfriendly Actions by the United States of America and/or Other Foreign States" (the "Draft Law") was introduced in the Russian State Duma (the lower chamber of the Russian parliament).

In the course of the meeting held in September 2016 between President Putin and the Russian government, Mr Sergey Donskoy, the Minister for Natural Resources and the Environment, announced that it had been decided to impose a temporary moratorium on the issue of new appraisal, exploration and development licences in the area of the Arctic continental shelf. No timing has been attributed to the...

On February 1, 2016, the State Commercial Court for Moscow determined case No. A40-83845/15 involving a complaint filed by public joint stock company Vimpel-Communications ("VimpelCom") against public joint stock company Tizpribor ("Tizpribor") regarding a lease agreement between VimpelCom as tenant and Tizpribor as landlord (the "Lease"). The full text of that decision (the "Decision") was...

Federal Law No. 42-FZ dated 4 March 2015 (On Amendments to Part I of the Civil Code of the Russian Federation) (the "Law") was signed by the President of the Russian Federation on 8 March 2015 and is aimed at amending certain provisions of the RCC in relation to the law of obligations and contract law. The Law will take effect on 1 June 2015.

This is an update of our alert dated 5 December 2012. Since our prior alert, there have been certain legislation changes addressed below. The public unified register of pledges of movable property (the Register) was initially introduced by Federal Law No. 166-FZ, dated October 2, 2012. Later amendments to various legal acts, including the Russian Civil Code (the Law), introduced further...

1. Concept of a security trustee (security manager). Given that the English-law concept of a 'trust' is not recognized by the Russian legal system, currently, under Russian law, only a creditor can hold the security for the debt. As a result, artificial creditor structures are often used to make Russian security viable in multi-creditor financing arrangements.

In Resolution No. 62 “on Liability of Members of a Company’s Governing Bodies” dated July 30, 2013 (the “Resolution”) the Russian Supreme Arbitrazh Court provided new interpretations of the Russian statutory rule that the chief executive officer and members of the management board, the board of directors and certain other management personnel of a Russian company (collectively the “Directors”)...

In This Presentation: 1. Why were changes needed? 2. How are things changing? 3. The process of change 4. Amendments in place now 5. What is still to change? - 2nd Draft Amendment - 3rd Draft Amendment - 4th Draft Amendment - others 6. Questions and discussion Please see full presentation below for more information.

The above ruling, after being delayed for a month, was finally published on September 2, 2012. It relates to a split jurisdiction clause of a type that is in common use, for example in loan agreements, and which limits the remedies available to one of the parties. Typically, in a loan agreement containing such a clause, the borrower may only seek arbitration, while the lender may choose...

Immobilien: Jetzt in Russland investieren ? Die finanzkrise hat zu einer veränderung der internationalen kapitalströme geführt. Waren bis 2008 die investitionen ausländischer kapitalgeber in russische gewerbeimmobilien auf einen anteil von rund 75 prozent des gesamten marktvolumens gestiegen, So liegen sie seit 2009 weitgehend brach und erreichten im ersten halbjahr 2011 weniger als 10...