Insights
Insights
legal updates
24 / 08 / 2023
Russian Finance Minister Anton Siluanov announced at a meeting of the Council for Strategic Development and National Projects that a draft Presidential Decree has been prepared that is designed to unblock part of foreign assets so that they can be subsequently exchanged for Russian assets.
legal updates
23 / 08 / 2023
On 31 July 2023, the Russian State Duma has passed Federal Law No. 389-FZ “On Amending the First and Second Parts of the Tax Code of the Russian Federation and Certain Legislative Acts of the Russian Federation and on Suspending the Second Paragraph of Clause 1 of Article 78 of the First Part of the Tax Code of the Russian Federation.” This law has introduced a series of substantial changes to the Russian Tax Code concerning general tax administration issues and certain types of taxes.
legal updates
11 / 08 / 2023
As of 8 August, Presidential Decree No. 585 suspends certain provisions of double taxation treaties with unfriendly countries (as well as Protocols thereto, which clarify a number of provisions of the DTTs and form an integral part of such treaties). Read further in our legal update.
legal updates
08 / 08 / 2023
On 24 July 2023, Federal Law No. 351-FZ was adopted. The Law supplements the Russian Civil Code with provisions on the common property of the owners of immovable property. Our colleagues have analized the law in the context of the development of legislation on this matter.
legal updates
07 / 08 / 2023
On 4 August 2023, the President of the Russian Federation signed Federal Law No. 422-FZ “On Amending Certain Legislative Acts of the Russian Federation” that suggests blocking (freezing) the assets of foreign persons against whom Russian special economic measures (sanctions) have been introduced. It also introduces the notion of a “blocked person” and expands the list of restrictions applicable to foreign states, organisations and nationals.
legal updates
31 / 07 / 2023
On 27 July 2023, Russia’s Ministry of Finance published an extract from the decision of the Sub-Commission of the Government Commission on Monitoring Foreign Investment in the Russian Federation No. 176/3 containing two criteria which may permit Russian legal entities with obligations under foreign bonds issued by foreign entities to avoid issuing such replacement Eurobonds.
legal updates
25 / 07 / 2023
The Plenum of Russia’s Supreme Court adopted Resolution No. 23 of 27 June 2023 “On the Application by Courts of Rules on the Pledge of Assets”, which is aimed at ensuring that courts consider cases relating to the application of certain provisions of the legislation on pledging items in a consistent manner.
legal updates
23 / 07 / 2023
On 8 June 2023, the Arbitrazh Court of St Petersburg and the Leningrad Region issued a ruling in case No. A56-129797/2022 between RusChemAlliance LLC and Linde GmbH. The Court found that it had jurisdiction, as it did not consider the Hong Kong International Arbitration Centre as sanctions-neutral. Read in more detail in our team's legal update.
legal updates
22 / 07 / 2023
After 24 February 2022, many Russian companies whose ownership structure included companies incorporated in so-called “unfriendly jurisdictions” encountered certain difficulties related to corporate decision-taking by such foreign shareholders. Our team analyses the text of the Draft Law which may help resolve a number of the related issues.
legal updates
20 / 07 / 2023
The Russian Ministry of Finance has revised the list of states and territories that (i) provide preferential tax treatment and/or (ii) do not disclose or provide information on financial transactions. The updated List was introduced by Order No. 86n of the Ministry of Finance dated 5 June 2023 and entered into force on 1 July this year.
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