Special Economic Measures: What to Expect?
The Government of the Russian Federation may introduce special economic measures to ensure that counter-terrorism and other operations are carried out outside the territory of the Russian Federation :
The Government of the Russian Federation may introduce special economic measures to ensure that counter-terrorism and other operations are carried out outside the territory of the Russian Federation :
On July 5, 2022, the President of the Russian Federation issued Decree No. 430 “On the Repatriation of Foreign Currency and the Currency of the Russian Federation by Residents Participating in Foreign Economic Activity”.
On July 14, several federal laws that amend the regulation of the legal status of foreign citizens in the Russian Federation were adopted.
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.
On June 15 and 16, 2022 three Government Decrees came into force, regulating the processing of personal biometric data by individuals in the unified biometric information system of personal data.
On 25 May 2022 Federation Council approved the Federal Law "On amendments to Article 14.8 of the Administrative Offences Code of the Russian Federation".
On July 13, 2022, the Government amended its Decree No. 497 of March 28, 2022 and clarified the list of persons who are not subject to the general moratorium imposed on April 1, 2022.
Federal Law No. 347-FZ dated July 2, 2021, has created new obligations for advertisers, advertising distributors, and operators of advertising systems.
On June 28, 2022 The Supreme Court adopted Resolution No. 21 of the Plenum “On Certain Issues of Application by Courts of the Provisions of Chapter 22 of the Code of Administrative Procedure of the Russian Federation and Chapter 24 of the Arbitration Procedural Code of the Russian Federation”, which clarified the rules for challenging decisions and actions of public authorities.
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.
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