Sanctions

Russian President Vladimir Putin signed a decree according to which the effect of economic counter-sanctions is extended until 31 December 2024.

From the beginning of the war in Ukraine to the present, 18 people associated with Russia have been excluded from the sanctions lists of the EU, US and UK. 8 people were excluded from EU sanctions lists, 7 from US sanctions lists, 3 from UK lists.

Nadmitov, Ivanov and Partners Law Firm prepared an overview of the sanctions imposed on Russian individuals and organizations by the United States of America in connection with the crisis around Ukraine.

Евросоюз принял решение не продлевать санкции против троих российских бизнесменов, а именно: бывшего главы Ozon Александра Шульгина, предпринимателя Фархада Ахмедова, владельца группы "Единое соцстрах" Григория Березкина.

On 18 August 2023, the High Court of London issued a ruling rejecting the claims of former Sibneft CEO Evgeny Shvidler, who had requested to be removed from the sanctions list. Despite his UK and US citizenship, the court did not grant his request

A procedure has been developed for the creation of international companies on the territory of the SAR by way of incorporation. A foreign legal entity can act as a founder of a company, provided that the assets of such a foreign legal entity with a book value of at least 800 million rubles are transferred to the established international company within one year from the date of its state registration.

For importers, until the end of 2026, the obligation to ensure the payment of customs duties and taxes in respect of goods imported into Russia in containers and transported through the territory of Russia as part of customs transit has been canceled.

On June 26, 2023, by the Russian Government Decree No. 1034, a list of goods subject to import restrictions into Russia from October 1 to December 31, 2023, was established.

Order of the Ministry of Finance of the Russian Federation dated June 5, 2023 No. 86n (the “Order of the Ministry of Finance dated June 5, 2023 No. 86n”) provides for an increase in the list of offshore companies by more than two times (from 40 to 91).

On June 9, 2023, the European Council issued an official press release announcing that the European regulator has reached an agreement on the key provisions of the Directive on criminalization of sanctions circumvention (the "Directive").

On June 7, 2023, Russia and Oman signed an Agreement for the Avoidance of Double Taxation and the Prevention of Tax Evasion on Income. According to the statement of the Ministry of Finance of the Russian Federation, the ratification of the Agreement is expected to take place by the end of this year.

On April 25, 2023, the President of the Russian Federation signed the Decree of the President of the Russian Federation of April 25, 2023 No. 302 “On the temporary management of certain property”.

On 16 March 2022, Russia ceased to be a member of the Council of Europe. In this regard, Russia is also no longer subject to 21 international treaties, including the Charter of the Council of Europe, the General Agreement on Privileges and Immunities of the Council of Europe, the Convention for the Protection of Human Rights and Fundamental Freedoms, the European Convention for the Suppression of Terrorism, the European Charter of Local self-government, European Social Charter.

Nadmitov, Ivanov & Partners law firm advises on sanctions imposed on Russian individuals and organizations by Switzerland in connection with the crisis around Ukraine.

As part of the 10th package of sanctions, Article 8 of Regulation (EU) No. 269/2014 was amended. This rule established the obligation for citizens of the EU Member States to disclose information about the assets of sanctioned persons within 2 weeks as they became aware of such information.