Analytics and brochures

19 March 2024, the Russian President's Decree No. 198 was published, which permits holders of Russian securities to receive funds from type "S" accounts of a foreign nominal holder and a foreign payment agent.

Pepeliaev Group advises that, on 1 April 2024, Federal Law No. 608-FZ dated 19 December 2023 comes into force, clarifying the rules for changing the purpose of premises to residential or non-residential and the procedure for their remodelling.

A Resolution of the Russian Government has been adopted that establishes special conditions for applying a penalty and other financial sanctions and measures of liability for the non-fulfilment of obligations under shared construction agreements.

Pepeliaev Group advises that, on 5 March 2024, draft law No. 568223-8 has been put before the State Duma. It provides for the unified legal regulation of marketplaces’ business.

Pepeliaev Group advises that the Russian Constitutional Court (the ‘Constitutional Court’) has adopted Resolution No. 11-P dated 19 March 2024. Articles 5(1), 5(2) and 137(3) of the Law on Bankruptcy have been checked for compliance with the Constitution as articles stipulating that, in practice, legal costs of the parties to standalone disputes be compensated after the principal debt of third-priority debtors is repaid.

On 11 March, Federal Law No. 45-FZ came into force whereby it is permitted to use digital rights as a means of payment in foreign trade.