As a follow-up to our previous reviews, here is the latest on the changes in the frozen asset exchange mechanism.

Last week, the Tver District Court in Moscow slapped a fine on Twitch in the amount of 13 million rubles for repeatedly refusing to fulfill the localization requirements for personal data of Russian citizens. Tinder met a similar fate when the court fined it 10 million rubles.

Presidential Decree No.665 dated September 9, 2023 (“Decree No.665”) was published recently and regulates the procedure which Russia will follow when performing its obligations under eurobonds (state bonds in foreign currency) to residents and to foreign creditors. The new decree modifies the procedure previously set by Presidential Decree No.394 dated June 22, 2022. In this overview, we will briefly analyze how Decree No.665 changed the process.

The biggest news from last week is the Decree of the Russian President on suspension of DTTs.

Earlier, we noted that this is important news, and now we have prepared an expanded review in which we tell you about consequences and measures to take. 

The Capital Legal Services team continues to monitor the situation.

On June 26, 2023, the EU Council adopted the 11th package of economic and individual restrictive measures to strengthen the existing sanctions and prevent their circumvention.

Restrictive measures earlier applied to objects of intellectual property (hereinafter “IP”) owned by certain individuals and organizations (see our review from last year), but now these measures directly affect IP associated with certain goods and technologies, regardless of who their rightholder is and in which state the rights to intellectual property are used.

Below, please find our review of the main changes related to regulation of intellectual property introduced by the 11th package of EU sanctions, as well as our analysis of clarifications of the European Commission on intellectual property issues which could be of use for your business.

On December 22, 2022, the Government Commission on Monitoring Foreign Investment in the Russian Federation  issued additional restrictions on transactions with shares (participatory interest) in joint stock companies and limited liability companies, as well as on payment of dividends in favor of shareholders from so-called “unfriendly” states.

On January 1, 2023, a new law took effect, extending a number of anti-crisis measures – the Federal Law No.519 “On introducing amendments to certain legislative acts of the Russian Federation an on suspending the effect of certain provisions of legislative acts of the Russian Federation. In this brief, we will examine the most significant measures in corporate relations. Let’s have a detailed look. 

December is usually a good time to sum up events of the year, and our IP practice has taken a look back at the most significant IP/IT events of 2022.

The rating is purely subjective and is based on the personal opinions of CLS associates Antonina Shishanova ana Victor Kaluzhski.

On October 20, 2022, the President of the Russian Federation signed a law giving the Bank of Russia the right to provide the Ministry of Internal Affairs with information on cases and attempts to make money transfers without the consent of the client.

The UK Treasury’s Office of Financial Sanctions Implementation (OFSI) has issued a new general license which took effect on October 28, 2022 and continues in effect for six months, until April 28, 2023. The general license allows to receive legal fees from a person designated under UK sanctions. Let’s have a detailed look.