07.08.2023

Russian counter-sanctions measures: new developments

On 4 August 2023, Federal Law No. 422-FZ (the Law) was published. The Law introduced amendments to, among others, Federal Law No. 281-FZ On Special Economic Measures and Coercive Measures dated 30 December 2006.

These amendments create additional economic restrictions for persons associated with unfriendly states. Such restrictions are similar to restrictions under US and EU personal sanctions in relation to Russian persons and are, in fact, a response to those.

Read in detail in the alert at the link:

https://www.stonebridgelegal.ru/media/files/Alert_Russian_counter-sanctions_Regulations_August_ENG.pdf

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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.

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