Lidings in cooperation with Legal Academy, an innovative educational project in Russia, will run a free webinar Doing Business in Russia Under Sanctions scheduled to take place on Friday, 27 May 2022, at 17:00 MSK.

Decree of the President of the Russian Federation No. 254 of May 4, 2022 (“Decree No. 254”) establishes additional rules for the fulfillment of financial obligations in corporate relations with foreign creditors and clarifies the procedure for the implementation of several previously published Presidential Decrees.

Presidential Decree No. 252 of 03.05.2022 (the “Decree”) introduced special economic measures due to unfriendly actions of some foreign states and international organizations. These measures are introduced because of illegal deprivation or restriction of the property rights of Russians and Russian companies to their property abroad.

A draft law has been submitted to the State Duma, proposing amendments to the rules for setting prices in civil contracts.

The new version of the Draft Law “On external administration to manage a company” (Draft Law) dated 12th April 2022 was introduced to the State Duma. 

The Draft Law was significantly revised, especially in part of the scope of application and the procedure of the external administration implementation. 

Presidential Decrees No. 79 of February 28, 2022 and No. 81 of March 1, 2022 (Decrees) introduced new rules for conducting transactions with foreign persons associated with States engaged in unfriendly actions.

On March 22, 2022, a Bill (the “Bill”) was submitted to the State Duma on the specifics of contractual performance under the conditions of unfriendly actions of foreign states and international organizations related to the introduction of restrictive measures (foreign sanctions) against Russian legal entities and individuals.

Lidings takes high positions in the new rating of the leading legal advisors in Russia based on the analytical research held annually by the “Kommersant” newspaper.

Currently, a great number of western companies declare the winding-up or suspension of their business activity in Russia. For many counterparties, which render services, perform works, or supply materials and goods to these companies (clients or a buyers), their winding-up inevitably leads to permanent or temporary ceasing of operations in the territory of the Russian Federation and, as a consequence, minimizing the associated costs of the Russian legal entity – at least for the next several months.