News

EU adopts 13th package of sanctions against Russia

On 23 February 2024, the EU published new regulations formalising the 13th package of restrictive measures (sanctions) of the European Union.

US introduces new blocking sanctions against Russia

On 23 February 2024, the US President announced a record number of sanctions against Russia, over 500 new restrictions on Russian and foreign persons. The new sanctions restrictions are for the most part made of blocking sanctions. The US Department of the Treasury’s Office of Foreign Assets Control has published an updated specially designated nationals list.

UK introduces new sanctions against Russia

On 22 February 2024, the UK announced new blocking sanctions that affected 50 Russian and non-Russian individuals and businesses linked to the Russian defence industry, metals industry, the manufacture and supply of electronics, diamonds, energy trade, etc.

Redomiciliation of a foreign company to Russia: points to consider

In 2018, the State Duma passed Federal Law No. 290-FZ of 3 August 2018 “On International Companies and International Foundations.” The law gave foreign companies an opportunity to “move” to Russia.

Court rules in favour of importer on the inclusion of royalties in the customs value of imported goods

In late 2022, the Supreme Court of the Russian Federation set aside two court rulings in favour of importers regarding the inclusion of licence fees (royalties) in the customs value of imported goods.
In the course of the retrial of the cases, the lower courts ruled in favour of the customs authority and upheld the decisions that royalties shall be included in the customs value. Such approach has become commonly applied to other cases. However, despite the negative practice for importers, in a number of cases participants of foreign economic activity have been able to defend the position that royalties should not be included in the customs value of imported goods. Read further in our legal update.

Venture Capital Financing. Forming a board of directors

In the venture capital industry, there is a popular saying that the main things to worry about in venture capital deals are money and control. Whereas money implies issues concerning the valuation of a company and the amount of investment, the issue of control is mainly resolved through the appropriate formation of a board of directors. In this issue, we discuss the principles underlying the negotiation of the best model of the board of directors in technology companies.

Investing in Uzbekistan

Our team authored a guide on investing in Uzbekistan which includes guidance with regard to corporate, finance, tax and real estate matters. Follow this link to access your copy.

Resolution of the Plenum of Russia's Supreme Court on unauthorised construction

In December 2023, the Plenum of the Supreme Court of the Russian Federation adopted a Resolution containing extensive clarifications regarding unauthorised construction. In our legal update, we have highlighted what we consider to be the most useful and interesting provisions of the Resolution.

Draft law on reforming the procedure for acquiring large shareholdings in PJSCs submitted to the State Duma

On 25 December 2023, a draft Law was brought in the State Duma of the Russian Federation aimed at improving the regulation of the procedure for acquiring large shareholdings in PJSCs. The authors of the draft law believe that the abovementioned changes will help boost investor confidence in the Russian financial market. Read further in our legal update.

Prohibitions and restrictions on export of certain categories of goods from Russia extended

On 27 December 2023, the Government of the Russian Federation published a resolution introducing a number of amendments to the previous resolutions of the Government concerning the restrictive measures on the export of certain categories of goods and equipment from the Russian Federation. Read further in our legal update.

Insights

Insights