White & Case LLP (JD Supra Russia)

Like the rest of the world, air passenger transport in the Russian Federation and other Commonwealth of Independent States (CIS) countries experienced a serious impact at the start of the COVID-19 pandemic. Yet air traffic appears to be recovering more rapidly in Russia and CIS nations than elsewhere. At the end of 2020, Russia had the majority of its aircraft fleets in service—a higher...

The Federal Antimonopoly Service strengthens enforcement of foreign investments legislation - Established by the Russian government in 2008, the Government Commission on Control over Foreign Investments in the Russian Federation is responsible for the review of foreign direct investment applications. The Government Commission is headed by the Chairman of the Russian government and composed of

This summary is intended to help clients navigate the large number of legal measures taken expeditiously by the Russian authorities in connection with the spread of COVID-19. The summary is not exhaustive. It includes only those measures which, in our opinion, are the most important.... Please see full Summary below for more information.

Amendments to Article 9.1 of the Insolvency Law ("Law 149-FZ") came into effect on 24 April 2020. The amendments provide that the benefit of the insolvency filing moratorium can be waived (the "moratorium waiver"). In addition, on 21 April 2020, the Supreme Court of the Russian Federation ("Russian SC") adopted clarifications (the "Clarifications"), which, in particular, explain that the...

This summary is intended to help navigate a large number of legal measures taken by the Russian authorities in connection with COVID-19. The review is not exhaustive. We plan to periodically update this document as new information becomes available. To make decisions on specific situations and issues, please refer to relevant legislative and regulatory acts, as mentioned in the summary. Please

In his address to the nation on 25 March 2020, the Russian President requested the government to implement measures ensuring the adequate taxation of Russian-sourced dividend and interest payments to "offshore" jurisdictions. These measures are aimed at supporting expenditures to be undertaken by the state in connection with COVID-19. Below we discuss the proposal and its impact.

The Russian Government has introduced a moratorium on the filing of insolvency claims (the "moratorium") from 6 April through 6 October 2020. This will have important legal consequences both for the persons covered by it ("protected debtors") and for those with whom they do business. The moratorium imposes restrictions on transactions made by protected debtors. It also establishes certain...

On 7 April 2020, Federal Law No. 115-FZ1 was published and entered into force. Law No. 115-FZ introduces a number of provisions aimed at simplifying the buybacks of shares in Russian public joint stock companies as well as relaxation of disclosure and reporting requirements and extending deadlines for certain corporate actions, the most important of which are discussed below.

Below we list the measures introduced by Russian state authorities in response to and in connection with the COVID-19 pandemic. High Alert Regime - All regions of Russia, including Moscow and the Moscow Region, have introduced a "high alert" regime which applies to the operations of state and municipal authorities, organizations and individuals.

The Russian government clarified requirements to disclosure of information about foreign investors' beneficiaries, beneficial owners and controlling persons. The Government Commission on Control over Foreign Investments in the Russian Federation (the Government Commission), which was established by the Russian government in 2008, is responsible for the review of applications. The Government...

The Moscow Exchange has announced the opening of the Sustainable Development Sector. This is a landmark event for the development of a sustainable finance (including green finance) market in Russia. The Guidelines for the Development of the Russian Financial Market for 2019 - 2021 mentioned the need to consider developing a national system for sustainable financial instruments. Further, the...

New amendments potentially require foreign investors to disclose information about beneficiaries, beneficial owners and controlling persons as part of pre-clearance. The Government Commission on Control Over Foreign Investments in the Russian Federation (the Government Commission), which was established by the Russian government in 2008, is responsible for the review of applications. The...

Welcome to the Russia page of our Global Employee Equity at a glance series. Stock Option Plans: Employment - Labor Concerns - There is a risk of employees claiming that they are entitled to compensation for loss of rights under the Plan where the Plan is amended or discontinued or where their employment is terminated, particularly if participation in the Plan is structured as being part

On 31 May 2018, the President signed Federal Law No. 122-FZ amending Federal Law No. 160-FZ dated 9 July 1999 "On Foreign Investments in the Russian Federation" ("Law No. 160-FZ") and Federal Law No. 57-FZ dated 29 April 2008 "On the Procedure for Making Foreign Investments in Business Entities of Strategic Importance for the National Defence and Security of the Russian Federation" ("Law No. 57-FZ

On 26 July 2017, the President signed Federal Law No. 212-FZ "On Amendments to Part One and Part Two of the Civil Code and Certain Laws of the Russian Federation."

Welcome to the most recent issue of our Russian Legislation Update, covering the period of March – April 2018. In this issue: - Currency Control - Banking

Welcome to the most recent issue of our Russian Legislation Update, covering the period of January – February 2018. In this issue: - Banking - Currency Control - Anti-Money Laundering - Disclosure of Information - Special Investment Contracts - Procurement

Welcome to the most recent issue of our Russian Legislation Update, covering the period of September – December 2017. In this issue: - Civil Law - Banking - Currency Control - Corporate - Mass Media / Foreign Agents

2017 amendments to Russian foreign investment laws potentially require approval of any transaction by any foreign investor regarding any Russian company to ensure national defense and state security...

Green finance has been defined as “financing of investments that provide environmental benefits in the broader context of environmentally sustainable development”. As the number of “green finance” transactions is increasing internationally, it is clear that both private companies and government entities are becoming “green borrowers”. There is a variety of instruments and innovative structures...

Corporate - On 29 July 2017 the President signed Federal Law No. 233-FZ amending the JSC Law and LLC Law. The amendments to the JSC Law relate to the scope of documents and information that shareholders can request from the company depending on their stake in the company. For example, a shareholder must hold no less than 1% of shares in order to access information on major and interested...

On 18 July 2017, the Russian President signed Federal Law No. 165-FZ, which contains a package of amendments to Federal Law No. 160-FZ dated 9 July 1999 "On Foreign Investments in the Russian Federation" (the "Foreign Investments Law") and to Federal Law No. 57-FZ dated 29 April 2008 "On the Procedure for Making Foreign Investments in Business Entities of Strategic Importance for the National...

This review concerns a number of amendments to Federal Law “On insolvency”1 (the “Law”) introduced by federal laws No. 222-FZ2 and No. 488-FZ3, and the interpretation of the amendments in the Review of Court Practice on Matters Related to Participation of State Authorities in Insolvency Proceedings and Procedures Applicable in these Proceedings, approved by the Presidium of the Supreme Court of...

On 1 July 2017, the Federal Law No. 155-FZ amending, inter alia, the Federal Law No. 57-FZ "On the Procedure for Making Foreign Investments in Business Entities of Strategic Importance to National Defense and State Security" (the "Strategic Investments Law" or the "Law No. 57-FZ") came into force.

On 31 May 2017 the Russian President signed Decree No. 244 lifting most of the special economic measures against Turkey. The Decree was followed by Russian Government Resolution No. 672 published on 2 June 2017.

Welcome to the most recent issue of our Russian Legislation Update, covering the period of May 2017. In this issue: - Banking - Corporate

Stock Option Plans: Employment - Labor Concerns - There is a risk of employees claiming that they are entitled to compensation for loss of rights under the Plan where the Plan is amended or discontinued or where their employment is terminated, particularly if participation in the Plan is structured as being part of an employee's employment with the Subsidiary.

Welcome to the most recent issue of our Russian Legislation Update, covering the period of February - April 2017. In this issue: - Banking - National Payment System - Banking - Banks' charters - On 28 March 2017 the President signed Federal Law No. 41-FZ amending the Law on Banks. According to the amendments, bank charters no longer need to specify the...

In Russian insolvency procedures, it is quite common for third parties to try to exclude property from a debtor’s insolvent estate (konkursnaya massa) by claiming title to its real property in the absence of the registered title. These third parties may refer to the agreements that had been made prior to the commencement of the insolvency procedure as well as to the actual transfer of property to

Decision: A WTO Panel has handed down a mixed ruling in an EU challenge to anti-dumping duties imposed by the Russian Federation on certain light commercial vehicles (LCVs). The Panel found for the EU on 8 of the 28 claims it brought against the Russian measure.