News

EU adds criteria for imposing sanctions and makes it harder to challenge them

On 14 May 2025, the Council of the EU published Council Decision (CFSP) 2025/904, which added the criteria for imposing EU blocking sanctions and significantly changed the proof process in cases of sanctions challenges by leading Russian businesspersons.

Increasing profits tax rate for organisations using trademarks of foreign companies that have ceased their activities in Russia

In response to the exodus of foreign companies from the Russian market and the subsequent discussion of their possible return, the State Duma has introduced two interrelated draft laws, No. 879837-8 and No. 879812-8, aimed, as lawmakers suggest, at protecting the domestic market and supporting domestic business.

Tougher personal data localisation requirements from 1 July 2025

On 28 February 2025, a federal law amending the Federal Law “On Personal Data” was published. The amendments will enter into force on 1 July 2025 and tighten the requirements for the localisation of personal data of citizens of the Russian Federation. In addition, based on the amendments, localisation requirements now apply not only to operators, but also to “processors” (persons processing personal data as instructed).

EU adopts 16th package of sanctions against Russia

On 24 February 2025, legal acts formalising the 16th package of European Union restrictive measures (sanctions) agains Russia. Read further in our legal update.

Clarifications that require clarification: the Russian Ministry of Finance updates its position on inclusion of dividends in the customs value

The Russian Ministry of Finance has published a new letter on the issue of including dividends in the customs value of goods. Although many foreign economic activity participants were expecting clarifications that would help eliminate contradictions in the current practice, the Ministry’s new position leaves more questions than answers. Read about the key conclusions of the Ministry of Finance, their potential impact on law enforcement practice and further prospects of regulation in our team’s overview.

Review of UK sanctions of 24 February 2025

On 24 February 2025, the United Kingdom announced new blocking sanctions targeting more than 100 Russian and foreign individuals and legal entities, as well as ships that are part of Russia’s so-called “shadow fleet.” Our team summarised the most significant designations in their legal update.

New rules of the Singapore International Arbitration Centre

Effective 1 January 2025, the Singapore International Arbitration Centre has new arbitration rules that apply to arbitrations that commence on (or after) 1 January 2025, unless an arbitration clause specifies the application of the SIAC Rules in a particular wording.

Government commission authorises sale of blocked assets to foreign buyers

In January 2025, the Russian Ministry of Finance published an Extract from minutes of the meeting of the subcommittee of the Government Commission on Monitoring Foreign Investment in Russia No. 121/4, according to which residents, including Russian depositories, are permitted to carry out transactions involving foreign securities with “unfriendly” non-residents if, as a result of such transactions, the foreign securities will be debited from the account of Non-Banking Credit Organisation Joint Stock Company National Settlement Depository (“NSD”) opened by the NSD with a foreign depository.

Review of US Sanctions of 10 January 2025

On 10 January 2025, the US Department of the Treasury announced a significant expansion of sanctions on the Russian energy sector. The most significant changes are summarised in our legal update.

Ministry of Finance and the Bank of Russia clarify rules of disclosure of sanctions-sensitive information by issuers

On 27 December 2024, an information letter of the Ministry of Finance and the Central Bank of the Russian Federation was published dedicated to the issues of the exercise by issuers of the right to restrict their disclosure (provision) of information. The Letter is aimed at unifying the practice of limited disclosure of information by issuers in accordance with the provisions of Resolution of the Government of the Russian Federation No 1102 dated 4 July 2023, which gives the issuer of securities the right not to disclose certain information if such disclosure may lead to the imposition of foreign sanctions against the issuer.

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