On 24 January 2024, the State Duma Committee for the Financial Market proposed to adopt for consideration Draft law № 531412-8 “On Amending Article 45-6 of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)"” (hereinafter - the “Draft law”).

The authors of the Draft law were a group of senators and deputies led by Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market.

The Draft law proposes to authorize the Bank of Russia to limit the share of loans secured by a pledge of buildings, structures, land plots, construction in progress, residential and non-residential premises and parts of buildings or structures (parking spaces) intended to accommodate vehicles.

The Federation Council has approved the draft law No. 390361-8 “On Amending Article 1248 of Part Four of the Russian Civil Code” (the “Draft law”). The Draft law will shortly be signed by the President and will enter into force 10 days after its publication.

According to the Draft law, article 1248(2) of the Russian Civil Code will be amended with a provision on the possibility to reimburse the costs borne before Rospatent from the losing party.

On 16 January 2024 the State Duma adopted in the first reading the draft law No. 412669-8 “On Amendments to Chapter 4 of the Federal Law “On the Basics of State Regulation of Trade Activities in the Russian Federation” (“Draft law”). The Draft law proposes to introduce a number of changes to the regulation of companies engaged in consumer market research, provided they receive revenue in the amount of more than 30 million rubles per year.

On 3 January 2024 a new Presidential decree No. 8 (“Decree No. 8”), which supplements Presidential decrees No. 95 dated 5 March 2022 and No. 665 dated 9 September 2023 regarding the regulation of special accounts of type “C” and type “I”, entered into force.

On 1 January 2024 amendments to the Patent Regulations to the Eurasian Patent Convention (EAPC) came into force, affecting various aspects related to the implementation of administrative procedures aimed at obtaining a Eurasian patent for invention and industrial design.

On 12 December 2023, the President of the Russian Federation signed Federal Law № 571-FZ to ratify the Agreement between the Government of the Russian Federation and the Government of the Sultanate of Oman on the Elimination of Double Taxation in respect of Taxes on Income and Prevention of Avoidance and Evasion of Taxation and the Protocol thereto (hereinafter - the “Agreement”).

Subject to ratification of the Agreement by Oman and mutual notification of the parties of the ratification procedures by the end of 2023, the Agreement will enter into force as early as 1 January 2024.

On 19 December 2023 the Constitutional Court of the Russian Federation issued Resolution № 59-P/2023 “On the Case Concerning the Verification of the Constitutionality of Paragraph Eight of Part Two of Article 59 of the Labour Code of the Russian Federation in Connection with the Complaint of Citizen E. A. Selkova” (hereinafter - the “Resolution”).

On 18 December 2023 the President of the Russian Federation issued decree No. 958 “On Amendments to Certain Decrees of the President of the Russian Federation”, according to which restrictions on certain types of deals with persons from “unfriendly” countries were extended.