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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
Anna Kuminova
Senior Associate
Victoria Mandzhieva
Associate
Artem Zakharchenko
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.

Review of Legislative Amendments to the Arbitrazh Procedure Code

27 February 2024

On 5 January 2024 Federal Law № 667-FZ dated 25.12.2023 “On Amendments to the Arbitrazh Procedural Code of the Russian Federation” (the “Law”) came into force, which introduced significant changes to certain procedural institutions, in particular, increased the time limits for procedural actions, expanded opportunities for consideration of cases in order proceedings and simplified proceedings, etc.

Ivan Vasilev
Associate
Dmitry Filippov
Associate

The Supreme Court Сonfirmed the Jurisdiction of Russian Courts to Bankrupt a Foreign Debtor

26 February 2024

Starting from 2021 bankruptcy of foreign legal entities in Russian commercial courts has been actively developing. Most of the judgments were issued by courts of appeal and cassation stages and then confirmed by “refusal” rulings of the Supreme Court. It is also interesting that such bankruptcy proceedings were initiated by either Russian state bodies or Russian legal entities.

Elizaveta Fursova
Partner

Decisions on Issuing Compulsory Licenses Will Now be Made by a Subcommittee Under the Russian Government

26 February 2024

On 15 February 2024, the President of the Russian Federation signed Decree No. 122 “On Improving the Procedure for Decision-Making on the Use of Inventions, Utility Models and Industrial Designs to Ensure the Economic Security of the Russian Federation” (“Decree”), which requires the Russian Government to form a Sub-commission on the use of inventions, utility models and industrial designs (“Sub-Commission”). The Sub-Commission will be formed under the Government Commission on Economic Development and Integration.

Ivan Vasilev
Associate
Anna Kuminova
Senior Associate