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Amendments to the laws on economically significant organisations adopted
On 14 December 2023, the State Duma of the Russian Federation passed a draft law introducing amendments to the federal Law “On the Specifics of Regulation of Corporate Relations in Business Companies that are Economically Significant Organisations” and to other legislative acts of the Russian Federation. Our team has analysed the most significant provisions of the draft Law.
Bank of Russia introduces amendments to C-type accounts regime
On 8 December 2023, the Bank of Russia introduced targeted changes to the “C”-type accounts regime. These changes are aimed primarily at stabilising the rouble and the Russian financial system in general. Read further in our legal update.
Bank of Russia sets down procedure for Russian investors to sell frozen assets
On 8 December 2023, the Bank of Russia’s Board of Directors adopted a decision establishing a procedure for the interaction of financial market participants to enable Russian investors to sell their foreign securities to persons of unfriendly states. Read in more detail in our legal update.
Denuo advises Smart Service Nord on acquisition of AmRest business in Russia
Denuo has advised Smart Service Nord on the acquisition of 100% of shares in Russian companies owned by AmRest, a European holding. AmRest used to manage over 200 KFC restaurants in Russia as a sub-franchisee.
Draft law adopted enabling the suspension of certain corporate rights of foreign holding companies in Russian entities
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.
EU adopts 12th package of sanctions against Russia
On 18 December 2023, legal acts formalising the 12th package of European Union restrictive measures were published and entered into force. Read further in our legal update.