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Direct ban imposed on setoff of obligations owed to creditors and company shareholders from “unfriendly” states
Russian investors allowed to receive funds payable in respect of securities from Type C accounts
On 19 March 2024, the President of the Russian Federation signed Decree No. 198 “On additional temporary measures of economic nature related to the performance of obligations under certain securities”. Decree 198 establishes the procedure for receiving securities related payments owed to certain categories of holders from funds blocked in Type C accounts.
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.
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.
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”.
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.