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 company whose activity relates to using subsoil resources into a Russian limited liability company (an LLC), and for a mechanism limiting the rights of foreign investors having membership of a Russian company whose activity relates to using subsoil resources.
Pepeliaev Group advises that on 28 June 2022, two federal laws were adopted that amend the
Tax Code and Federal Law “On protecting and encouraging capital investments in
the Russian Federation” and that are aimed at improving the mechanism of
APECIs.
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 from lease agreement with such lessees unilaterally.
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.
The State Duma has passed the law to considerably extend the supervisory functions of prosecutors in controlling transactions in terms of their compliance with sanctions , anti-money laundering, customs, tax and currency legislation.
On 28 May 2022, the Russian President signed the Law on amending article 14.8 of the Russian Code of Administrative Offences[1] (the “Law”) in terms of additional measures of administrative liability being introduced for compelling consumers to provide personal data.
