Our practice in the field of commercial law covers advice on all issues of international and foreign sanctions, including:
- USA sanctions;
- European Union sanctions;
- Switzerland sanctions;
- Russian Federation sanctions;
- international sanctions and sanctions of other foreign countries.
Our practice in the field of commercial law includes the provision of legal services across the entire spectrum of international trade and the resolution of trade disputes within the framework of the WTO and the EAEU and in the context of international and foreign sanctions.
The Firm supports and regularly sponsors the WTO Model International Competition under the auspices of the Russian Academy for Foreign Trade of the Ministry of Economic Development of the Russian Federation, which took place in 2018, 2016, 2014 and 2012. Alexander Nadmitov acts as a member of the jury of the WTO Model.
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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.
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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).
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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").
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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.
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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.
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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.
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