Russian counter-sanctions measures: new developments

On 4 August 2023, Federal Law No. 470-FZ (the Law) was published. The Law introduced certain mechanisms for the exclusion of foreign holding companies associated with unfriendly states, which hold at least 50% of the voting rights in Russian legal entities that are considered essential for the Russian economy (the Foreign Holding Companies and the Significant Companies, respectively), from the ownership structure of the Significant Companies.

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