Insights | Denuo

15 / 12 10:30 msk

Plurality of sole executive body in Russian business companies: key issues and court practice

21 / 12 10:30 msk

Lease of commercial immovable property: analysis of key contract terms and negotiating positions of the parties

VAT on royalties: overview of current enforcement trends

In this legal update, our team addresses current trends in the development of court cases related to charging agency VAT additionally on the customs value of goods, and gives recommendations regarding the mitigation of the related risks.

27 / 0710:30am msk

Recent trends in court practice concerning the conclusion of corporate agreements under Russian law

UK prohibits legal services for certain transactions

On 30 June 2023, amendments to The Russia (Sanctions) (EU Exit) Regulations 2019 entered into force. The amendments to the Regulations prohibit UK Persons who are UK lawyers from providing legal advisory services to clients who are not UK Persons (ie, not only Russian clients), and in respect of certain financial or trade activities prohibited by UK sanctions.

EU extends ban on selling securities to Russian persons

On 23 June 2023, regulations formalising the European Union’s “Eleventh Package” of restrictive measures were published and entered into force.

Summary of the 11th package of EU restrictive measures

On 23 June 2023, legal acts formalising the “Eleventh Package” of European Union restrictive measures were published and entered into force.

Denuo participates in 2023 charity Legal Run

For the seventh consecutive year, Denuo’s team has taken part in the International Charity Legal Run. The donations collected during the event were transferred to support the wards of the Podari Zhizn charity foundation which helps children, teenagers and young adults up to the age of 25 with various forms of cancer, serious blood disorders and other life-threatening diseases.

What has changed in the practice of including licence payments (royalties) in the customs value of imported goods

Case law has undergone significant changes since the end of 2022 when the Supreme Court of the Russian Federation issued rulings on disputes between Bershka CIS LLC, Pull & Bear CIS, LLC and the customs authorities over the inclusion of intragroup licence payments in the customs value of imported goods.

EU Council finalises the proposal for a directive criminalising the violation of EU sanctions

On 9 June 2023, the Council of the European Union announced that it had finalised the text of the Directive on the definition of criminal offences for the violation of EU restrictive measures (sanctions). Once adopted, the Directive will become an important tool for enforcing EU sanctions.

EU expands criteria for listing Russian businesspersons and their close associates

On 5 June 2023, the Council of the European Union amended the criteria for imposing blocking sanctions on Russian persons. The Amendment applies to businesspersons operating in Russia and their associates.

Denuo advises Smart Service on acquisition of KFC business in Russia

Denuo has advised Smart Service, a Russian operator led by Konstantin Kotov and Andrey Oskolkov, on the acquisition of KFC’s business in Russia from Yum! Brands, a US fast food corporation. Mr Kotov and Mr Oskolkov already own Food Service, a Russian operator of more than 40 KFC franchise restaurants.

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