On 14 August 2023 the Tenth Arbitration Court of Appeal invalidated a real estate purchase and sale deal completed without the permission of the Government Commission for Monitoring the Implementation of Foreign Investments in the Russian Federation (hereinafter referred to as the “Government Commission”). On 16 October 2023 the Arbitration Court of the Moscow District upheld the decision of the Court of Appeal, confirming the illegality of such transactions bypassing the procedure provided for by current legislation.

The bill “On Amendments to the Code of Administrative Offences of the Russian Federation” regulating responsibility in the field of military registration (the “Bill”) was submitted to the State Duma of the Russian Federation back in 2019. On 25 July 2023, the Bill was adopted in the third reading and sent for approval to the Federal Council. The planned changes will affect both individuals liable for military service, and their employers.

On May 23, 2023, the Government submitted to the State Duma a bill designed to simplify the procedure for voluntary liquidation of small and medium businesses companies.

On 17 January 2023, the Decree of the President of the Russian Federation "On the temporary procedure for decision-making by the bodies of some business companies" was signed and published. It introduces several changes in decision-making for a number of large Russian companies.

The President issued Decree No 618 dated 08 September 2022, which established additional restrictions on transactions involving foreign persons in relation to shares of Russian limited liability companies.

The Government of the Russian Federation has submitted to the Parliament bill providing for amendments to paragraph 3 of Article 453 of the Civil Code. According to the current wording, in the case of a change or termination of the contract by court, the obligations are considered changed or terminated from the moment the court decision on the change or termination of the contract enters into force.

Currently, a great number of western companies declare the winding-up or suspension of their business activity in Russia. For many counterparties, which render services, perform works, or supply materials and goods to these companies (clients or a buyers), their winding-up inevitably leads to permanent or temporary ceasing of operations in the territory of the Russian Federation and, as a consequence, minimizing the associated costs of the Russian legal entity – at least for the next several months.