Winding-up a Company in Russia During Sanctions. Summary Guide
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.
Escrow Account: What is it and what it is for (in Russia)
Considerable Sanctions-Related Changes in Regulations and Intellectual Property in the Pharmaceutical Sphere
On 8 March 2022, Federal Law No. 46 “On Amending Certain Legislative Acts of the Russian Federation” entered into full force and effect, suggesting considerable changes in regulations and intellectual property in the pharmaceutical sphere.
Sanctions Monitoring. Aviation Sector
As of 6 March 2022, several economic restrictions were imposed on the aviation sector.
New Legal Requirements: Government Amendments
On March 04, 2022, the Council of Federation has approved and sent to the President the Federal Law “On Amending Certain Legislative Regulations of the Russian Federation” (the “Law”). This Law provides for a number of changes in the regulation of procurement and circulation of medical products (“MP”) and medical devices (“MD”), corporate and financial relations, and even social matters.
Sanctions Monitoring. Banking Sector
As of 3 March 2022, a number of economic restrictions were imposed on the banking sector.
Legal Digest: Bankruptcy Disputes in Russia - 3 Quarter 2021
Review of the most notable bankruptcy disputes in Russia - 3 Quarter 2021 (in Russian).
Legal Digest: Court Cases in International Commercial Arbitration - 3 Quarter 2021
Review of the most notable court cases in International Commercial Arbitration - 3 Quarter 2021 (in Russian).