On 3 May, President Putin signed Decree No. 252 on Russian countersanctions against individuals and entities of the countries which have imposed sanctions on Russia (“unfriendly states” in the Russian official terminology). In essence, this new Decree introduces the legal framework for blocking sanctions prohibiting: (i) Russian persons (comprising federal and regional state authorities, other state bodies, municipalities, organizations and individuals under the jurisdiction of the Russian Federation) from entering into transactions with (or discharging…
The text of a draft bill criminalizing compliance with anti-Russian sanctions started circulating via unofficial sources on April 5, 2022. According to the media, it was submitted to the Russian State Duma (lower chamber of Parliament) on April 4, 2022. Currently, Article 201 of the Russian Criminal Code “Abuse of Authority” provides for liability of executives of companies who (a) use their authority against the company’s interests and (b) receive personal gains for themselves or…
Prohibition on import/export of certain goods On March 8, 2022, the President of the Russian Federation signed an Executive Order, which prohibits the import and export of products and raw materials from the country according to the lists determined by the Russian Federal Government. According to the Executive Order, the ban and restrictions on the import and export of products and raw materials are applied “in order to ensure the security of the Russian Federation…
Russian President Vladimir Putin has signed a decree on economic measures against the US, other countries and international organizations who have imposed sanctions on Russia (and are therefore treated by the Russian authorities as unfriendly states). In summary, the new Russian retaliatory measures include the following: The following transactions with foreigners affiliated with unfriendly states may be carried out only upon obtaining governmental permits• lending to foreigners (in rubles), except otherwise prohibited transactions;• transactions (operations)…