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.

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.

On August 22, 2021, Federal Law No. 343-FZ dated 02.07.2021 "On Amendments to the Law of the Russian Federation "On the Organization of Insurance Business in the Russian Federation" and Certain Legislative Acts of the Russian Federation" ("Law") comes into force. This regulatory act is aimed at fulfilling Russia's obligations to the WTO on the admission of branches of foreign insurers to the territory of the Russian Federation.

On July 1, 2021, Federal Law No. 225-FZ of 28.06.2021 "On Amendments to Part One of the Civil Code of the Russian Federation" (the Law) aimed at improving and increasing the effectiveness of holding remote meetings came into force.

On 01.09.2021 Federal Law No. 174-FZ  dd 11.06.2021 (the Law) enters into force.

Starting from August 24, 2021, amendments¹ to the Federal Law “On Foreign Investments in the Russian Federation” regarding the procedure for accreditation of branches and representative offices (RO) of foreign legal entities will come into force.

To prevent the direct implementation of provisions of the Joint Stock Companies (hereinafter-JSC) legislation in the Charters, draft laws that soften the requirements for Charters were introduced to the State Duma of the Russian Federation.

The Supreme court has amended the regulation of pledges, established by the Supreme Arbitration Court of the Russian Federation earlier. The Decree of the Plenum of the Supreme Court No. 45 "On some issues of dispute resolution connected to pledge" dated 24.12.2020 (hereinafter – DPSC No. 45) derogates the Decree of the Plenum dated 12.07.2012 No. 42 (hereinafter – DPSAC No. 42) and resolves main problems raised in connection with the reform of this institute in 2015.

Starting from the beginning of 2021, new rules for the retail sale of goods (the “Rules”) entered into force. The Rules will be valid until January 1, 2027. The Rules are developed within the framework of the regulatory guillotine and replace a few previously existing documents (rules for retail trade, rules for distance selling of goods, rules for commission trading).