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Damage to Russian Federation and Russian Central Bank Will Be Compensated at the Expense of Property of US and Related Persons

24 May 2024

On 23 May 2024 Russian President signed the Decree № 442 “On the Special Procedure for Compensation of Damage Caused to the Russian Federation and the Central Bank of the Russian Federation in Connection with Unfriendly Actions of the United States of America” (hereinafter – the “Decree”).

The Decree introduces a special procedure for compensation of damages caused to Russian Federation or Central Bank of Russian Federation (hereinafter – “Russian rightholders”) due to unfriendly actions of the US. 

Dmitry Filippov
Associate

Government Commission Will Coordinate Transactions on the Alienation of Intellectual Property of Rightholders from Unfriendly Countries

22 May 2024

Earlier we reported on the fact that the Ministry of Industry and Trade of Russia has developed a draft by-law extending a special procedure for the execution of transactions to transactions involving intellectual property objects.

This legislative initiative has been developed. On 20 May the Decree of the Russian President No. 430 “On the Temporary Procedure for Acquiring the Exclusive Rights of Certain Copyright Holders and Fulfilling Monetary Obligations to Certain Foreign Creditors and Persons Controlled by Them” (hereinafter referred to as the “Decree”) was signed and came into force.

Ivan Vasilev
Associate

The Russian Federation Has Created a Unified State Register of Advocates

24 April 2024

On 22 April 2024 the President of the Russian Federation signed Federal Law No. 83-FZ dated 22 April 2024 «On Amendments to the Federal Law “On Advocacy and Advocacy in the Russian Federation”» (hereinafter - Federal Law No. 83).

The main change was the creation of the Unified State Register of Advocates (hereinafter - the “Register”) – a federal information resource containing information on all advocates of the Russian Federation, as well as on applicants who failed the qualification examination. Federal Law No. 83 authorizes the Ministry of Justice of the Russian Federation to maintain the Register and determine the procedure and composition of the information to be included in the Register.

Dmitry Filippov
Associate

The Russian Government Has Сlarified the Procedure for Issuing Compulsory Licenses

12 April 2024
On 4 April 2024 the Resolution of the Government of the Russian Federation dated 27 March 2024 No. 380 “On the Sub-commission on the Use of Inventions, Utility Models and Industrial Designs to Ensure Economic Security of the Russian Federation under the Government Commission on Economic Development and Integration” (the “Resolution”) came into force. The Resolution approved the Regulations on the Sub-Commission on the Utilization of Patent Rights Objects (“Regulations”), as well as the rules for preparation by the Sub-Commission of decisions on the uses of such objects with payment of commensurate reimbursement to their right holders (“Rules”).
Ivan Vasilev
Associate

The Constitutional Court of the Russian Federation Has Determined the Procedure for Reimbursement of Court Fees Incurred by Defendants in Separated Disputes in Bankruptcy Cases

29 March 2024
On 19 March 2024 the Constitutional Court of the Russian Federation adopted Resolution No. 11-P/2024 in the case concerning the verification of the constitutionality of the provisions of Article 110(1) of the Arbitration Procedural Code of the Russian Federation, Article 5 and Article 137(3) of the Federal Law «On Insolvency (Bankruptcy)».
Dmitry Filippov
Associate

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

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.