Go back to Insights & events
25.01.2023

Russian assets held through offshore vehicles: new developments

Stonebridge Legal team prepared an alert regarding a draft law “On Deoffshorisation”, which was introduced in the State Duma on 23 January 2023.

The draft law concerns:

  • Russian legal entities and individuals which own any assets in Russia through legal entities registered in specified offshore jurisdictions; as well as
  • any person (whether Russian or foreign) which manages assets in Russia through such legal entities.

Read in detail on the draft law in the alert at the link.

You might be interested

  • Temporary administration over Carlsberg’s Baltika lifted
    Temporary administration over Carlsberg’s Baltika lifted

    As we advised in one of our previous client alerts, Presidential Decree On Temporary Administration of Certain Assets No. 302, dated 25 April 2023, introduced temporary administration in relation to certain Russian assets owned by foreign groups associated with unfriendly states, namely in relation to Uniper’s Russian subsidiary PAO Unipro and Fortum’s Russian subsidiary PAO Fortum. In July 2023, the list of assets subject to such temporary administration was expanded to include, among others Carlsberg’s Russian subsidiary Baltika Brewery LLC.

    04.12.2024