05.07.2023

Regulatory developments in relation to Eurobonds

Earlier we informed you about Presidential Decree No. 364 dated 22 May 2023 on Amending Presidential Decree No. 430 dated 5 July 2022 (“On Repatriation by Residents – Participants of Foreign Economic Activity – of Foreign and Russian Currency”).

Until recently, the official procedure for granting such approvals was not fully aligned with Presidential Decree No. 364. Consequently, this created practical difficulties. On 29 June 2023, Government Resolution No. 295 was amended with a view to such alignment.

Read in detail in the alert at the link:

https://www.stonebridgelegal.ru/media/files/Alert_Eurobonds_Regulatory_Developments_July_ENG.pdf

You might be interested

Liability for failure to take direct possession of equity in economically significant companies
In one of our previous alerts, we advised that a draft law amending the Russian Code of Administrative Offences had been submitted to the State Duma to establish, among other things, sanctions for failure to comply with the requirements of Law No. 470-FZ On Peculiarities of Regulation of Corporate Relations in Business Entities that are Economically Significant Organisations. On 22 June 2024, that law was signed by the President of Russia, published and entered into force.

26.06.2024