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Russia Sanctions

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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…

The Russian government is preparing to introduce new counter-measures in response to US and EU sanctions. Draft Bill on Russian Countermeasures Last week the State Duma decided to amend Draft Bill No. 441399-7 “On Measures (Countermeasures) in Response to Unfriendly Actions of the USA and (or) other Foreign States” (“Draft on Countermeasures”). As opposed to the initial version of the Draft on Countermeasures, the new version proposes the following five measures: Termination or suspension of international cooperation…

Russian lawmakers have proposed a draft bill which if adopted could result in severe repercussions for almost all economic activity by foreign companies in Russia. On Friday, 13 April 2018 the leaders of all the parties represented in the Russian Parliament introduced Draft Bill No. 441399-7 “On Measures (Countermeasures) in Response to Unfriendly Actions of the USA and (or) other Foreign States” (the “Draft”). The Draft provides for the following measures: Prohibition or restriction on the…

On 15 March 2017, the President of Ukraine enacted the decision of the Ukrainian National Security and Defense Council (the “NSDC”) to impose sanctions on five Ukrainian banks with the capital of Russian state-owned banks: Sberbank PJSC; VS Bank PJSC; Prominvestbank PJSC; VTB Bank PJSC; and BM Bank PJSC (the “Sanctioned Banks”).1 The Sanctioned Banks are prohibited from transferring capital outside the territory of Ukraine in favour of any affiliated entities. Based on the current…