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A special procedure has been established for making certain transactions with securities

Further to the President’s Decree No. 138 dated 3 March 2023[1] (Decree No. 138), a special procedure has been established for performing transactions with Russian securities purchased from ‘hostile’ non-residents.

The conditions of transactions involving a disposal of shares and membership interests of Russian companies by "hostile" non-residents and a payment of dividends by Russian JSCs and LLCs to foreign shareholders and participants have been published

The Government Commission for Monitoring the Implementation of Foreign Investments in Russia has established a list of conditions for the carrying out (performance) of transactions (operations) aimed at the disposal of securities, incl...

The procedure of issuing permissions for transactions (operations) with respect to membership interests in llcs involving non-residents from hostile states

The Russian Government has determined the procedure for the Government Commission on Monitoring Foreign Investment in the Russian Federation (the ‘Government Commission’) to issue permissions for transactions (operations) with respect to me...

New developments in legislation on special economic measures: what the participants on the pharmaceuticals market should anticipate

Starting from 25 July 2022, federal laws dated 14 July 2022 No. 272-FZ and No. 273-FZ came into force, which amend the public procurement rules, including in the sphere of pharmaceuticals and medical items if special state security measures...

Since 14 July a moratorium has been introduced on the application of a number of antitrust prohibitions and other measures have come into force that are aimed at supporting business under conditions where sanctions are in force

Amendments have been made to the legislation that impose a moratorium on the application of a number of antitrust prohibitions when procurement is carried out from a single supplier, change the threshold values for transactions to be ...

Fines reduced for unlawful foreign currency transactions and cancelled for violations committed because of sanctions

Pepeliaev Group advises that, on 24 July 2022, a Federal Law came to force that reduces fines for parties involved in foreign trade for unlawful foreign currency transactions and cancels fines for violations committed because of sancti...

A law has been adopted that contains mechanisms for blocking the actions of foreign companies that may pose a threat to the uninterrupted and rational use of subsoil resources or of facilities of cross-border gas transportation infrastructure

Pepeliaev Group advises that on 6 July 2022 the State Duma of the Federal Assembly of the Russian Federation adopted a Law that provides for a mechanism for the mandatory transformation of a branch (representative office) of a foreign ...

The State Duma has adopted a law that grants the lessor a number of additional rights in a situation when the lessee is a commercial and/or public catering organisation and is connected with a hostile state/territory

On 28 June 2022 the Russian State Duma adopted a Law whereby lessors, under certain conditions, are granted the right to charge a larger rent from lessees that are connected with hostile states/territories and the right to withdraw fro...

A law has been signed to the effect that only Russian persons may use subsurface resources

The Law was signed and officially published on 28 June 2022. It provides that foreign persons no longer have the right to use subsurface resources in the Russian Federation.