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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.
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.
Extending special anti-crisis measures in corporate law
On 25 December 2023, the President of the Russian Federation signed Federal Law No. 625-FZ of 25 December 2023 “On Amending Article 98 of the Federal Law ‘On State Control (Supervision) and Municipal Control (Supervision) in the Russian Federation’ and Certain Legislative Acts of the Russian Federation”.
New US sanctions: grounds for sanctions against foreign financial institutions and prohibitions on Russian goods
On 22 December 2023, the US Treasury Department announced the extension of sanctions against the Russian Federation and the issuance of three General Licences authorising certain transactions. In our legal update we outline the most significant changes.