Under Decree of the Government of the Russian Federation No. 622 dated 19 April 2021 “On restrictions on the provision of information and documentation to an audit organization, an individual auditor” (“Decree”), starting from April 29, 2021, a wide list of audited Russian entities will cease to disclose information, that is normally subject to mandatory disclosure requirements, to audit organizations which are owned or controlled by foreign individuals, stateless persons, foreign legal entities, international companies…
On July 28, 2020, in the State Duma of Russia was introduced the Draft Bill No. 996800 proposing additional Russian countersanctions (“Draft”). The Draft proposes to introduce amendments to the Federal law No. 281-FZ dated December 30, 2006 “On special economic measures and coercive actions” that sets forth the legal framework for the Russian countersanctions regime. The Draft proposes the following principal provisions: Application of the restrictive measures to the entities controlled by the sanctioned persons. These…
On May 20, 2020 a draft bill on amendments to the Federal Law on Counter Sanctions was introduced to the Russian Parliament. The proposed amendments authorize the Government to allow importation of sanctioned goods to Russia if: the goods constitute essential commodities that do not have analogues in Russia; and/or the goods do have Russian analogues, but there is deficit of such goods due to particular circumstances (national emergency, high-alert regime, etc.) Sanctioned…
In response to the growing impact of the COVID-19 Coronavirus in Europe, a number of countries have implemented national controls to restrict the export of medicines and medical equipment, such as face masks, gloves, and protective clothing. Over the weekend, the EU Commission reviewed actions taken by Member States and, while it has discouraged Member States from adopting measures which would limit intra-EU trade, it has introduced a temporary export ban on exports of certain…