On July 14, 2022, the Federal Law No. 323-FZ "On amendments to certain legislative acts of the Russian Federation" came into effect. The Law, among other things, amends the Federal Law No. 46-FZ of March 8, 2022 and provides for the specifics of regulating relations with tenants in the field of trade and (or) catering from unfriendly countries until the end of 2022.

The US Financial Crimes Enforcement Agency (FinCEN) and the U.S. Bureau of Industry and Security (BIS) have issued a joint review of recommendations and "red flags" that they suggest financial institutions should use to prevent violations of export regulations and restrictions imposed on Russia.

On July 06, the State Duma adopted in the third reading a draft federal law establishing the conditions for the transformation of branches and representative offices of foreign companies in Russia into Russian limited liability companies (the “Draft law”) .

On June 10, 2022 the Government of the Russian Federation submitted to the State Duma a Federal Law “On amendments to certain legislative acts of the Russian Federation and on establishing the specifics of regulating corporate relations in 2022” (the “Draft Law”).

Decree of the President of the Russian Federation No. 254 of May 4, 2022 (“Decree No. 254”) establishes additional rules for the fulfillment of financial obligations in corporate relations with foreign creditors and clarifies the procedure for the implementation of several previously published Presidential Decrees.

Presidential Decree No. 252 of 03.05.2022 (the “Decree”) introduced special economic measures due to unfriendly actions of some foreign states and international organizations. These measures are introduced because of illegal deprivation or restriction of the property rights of Russians and Russian companies to their property abroad.

A draft law has been submitted to the State Duma, proposing amendments to the rules for setting prices in civil contracts.

The new version of the Draft Law “On external administration to manage a company” (Draft Law) dated 12th April 2022 was introduced to the State Duma. 

The Draft Law was significantly revised, especially in part of the scope of application and the procedure of the external administration implementation. 

Presidential Decrees No. 79 of February 28, 2022 and No. 81 of March 1, 2022 (Decrees) introduced new rules for conducting transactions with foreign persons associated with States engaged in unfriendly actions.

On March 22, 2022, a Bill (the “Bill”) was submitted to the State Duma on the specifics of contractual performance under the conditions of unfriendly actions of foreign states and international organizations related to the introduction of restrictive measures (foreign sanctions) against Russian legal entities and individuals.