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Bank of Russia Published Clarification to Presidential Decree on the Procedure for Fulfillment of Obligations to “Unfriendly” Creditors

29 March 2024
On 25 March 2024 the Central Bank of the Russian Federation published an official clarification “Clarification of the Procedure of Application of the Provisions of the Decree of the President of the Russian Federation dated 5 March 2022 No. 95 “On the Temporary Procedure of Execution of Obligations to Certain Foreign Creditors””.

Key Changes to the Law on Circulation of Medicines

14 March 2024
On January 30, 2024, the President of Russia signed Federal Law No. 1-FZ, which introduced substantial amendments to Federal Law No. 61-FZ dated April 12, 2010 ("Law on Circulation of Medicines").

The legislative novelties are primarily aimed at harmonizing national regulation and rules established in the EAEU unified market.
Ivan Vasilev
Associate
Artem Zakharchenko
Associate
Anna Kuminova
Senior Associate
Victoria Mandzhieva
Associate

Sanctions Watch in Russia: Advising Business

29 February 2024
A combination of extensive and complex trade sanctions and export controls against Russia imposed by EU, US and UK starting February 24th 2022 inevitably affected local and multinational companies in Russia. In response the Russian government imposed its own retaliatory measures affecting the business in the country.

Lidings closely monitors the developments of the current situation and offers complex assistance on various issues related to sanctions, helping our clients to maintain operations under the conditions of turbulence and elevated risks.
Stepan Guzey
Partner

The Bank of Russia’s Letter on Dividend Policy Was Published

29 February 2024
The website of the Central Bank of the Russian Federation published Information Letter No. IN-02-28/9 dated 08 February 2024 “Information Letter of the Bank of Russia on Approaches to Determination and Disclosure of Dividend Policy (“Information Letter”). The Central Bank of the Russian Federation recommends that companies whose securities are admitted to organized trading (“PJSC”) develop and implement a transparent and understandable mechanism for determining the amount of dividends and their payment.