Practices
Industries
Jurisdictions

Founder of a Major Russian Pharmaceutical Company Listed as SDN in the UK

09 February 2023

On 8 February 2023 Alexey Repik, the founder of R-Pharm – Russian pharmaceutical company, producing, among other things, drugs for COVID-19 (e.g. coronavir (favipiravir) and artlegia (olokizumab)) was listed in the UK Sanctions List.

Reasoning behind this decision is that he holds the position of the Chairman of the Board of R-Pharm, which receives financing from the Russian Direct Investment Fund – a Government of Russia-affiliated entity. Moreover, Alexey Repik is also designated as a person associated with Vladimir Putin, the Russian President.

US Has Authorized Provision of Accounting, Trust and Corporate Formation, and Management Consulting Services to Russian Persons in Spheres of Agricultural Commodities and Medicine

30 January 2023

The new General license No 6C published by OFAC on January 1, 2023, establishes exceptions from US sanctions related to the spheres of agricultural commodities, medicine, medical devices, replacement parts and components for medical devices, or software updates for medical devices.

Legal Advisory Services Under Newly Applied Sanctions

07 November 2022

In October 2022, the European Commission approved the eighth package of sanctions against Russia. Among other restrictions it established a ban on the provision of legal services to Russian companies. A few weeks later, on October 24, the European Commission published answers to frequently asked questions including explanations as to what kind of legal services fall under the ban and whether the extension of sanctions to this sphere does not entail restrictions on the right to protection.

Partial Mobilization Announced in Russia

21 September 2022

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.