On 2 October 2024, Presidential Decree No. 840 instructed Russia’s Central bank to introduce a regulatory framework for new Type S custody accounts to be opened by Russian depositaries directly with Russian registrars, and specify which Russian securities are to be kept on such New S Accounts.
Pursuant to Decree No. 840, the CBR’s Board of Directors introduced the relevant new rules for transactions involving the New S Accounts.
Read in detail in the alert at the link:
Draft law No. 1059849-7, which supplements Federal Law No. 160-FZ On Foreign Investments in the Russian Federation, dated 9 July 1999, with a new Article 20 (1), is currently under consideration in the State Duma. The article introduces a legal mechanism allowing Russian purchasers who bought shares (equity interests) in Russian companies previously owned by foreign investors to refuse, subject to a number of conditions, to perform their obligations to return the assets to foreign investors under buyback options and other similar agreements.
21.07.2025