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From 1 March 2022, Russian business owners will be able to transfer business and personal assets worth at least RUB 100 million to new private foundations established under Russian law. As opposed to inheritance foundations, which have not caught on in Russia, private foundations can be established and tested during the lifetime of their founders.

Starting from 13 July 2021, Russian credit institutions and other payment service providers are prohibited from interacting with illegal gambling and lotteries operators and foreign payment service providers who accept and transfer payments to illegal gambling and lottery operators. The restrictions are adopted by the Amendments to the Gambling Law (“Law”).

Welcome to our Virtual Global Trade Conference, a virtual offering for all our clients and friends worldwide. Baker McKenzie’s international trade compliance lawyers from around the world discussed the major developments impacting international trade. The sessions include trade policy, exports, sanctions, customs, China trade developments and trade developments.

Every year our lawyers produce Doing Business in Russia, a general guide for companies operating in or considering investment into the Russian Federation. The guide presents an overview of the key aspects of the Russian legal system and regulation of business activities in this country.

Under Decree of the Government of the Russian Federation No. 622 dated 19 April 2021 “On restrictions on the provision of information and documentation to an audit organization, an individual auditor“, starting from April 29, 2021, a wide list of audited Russian entities will cease to disclose information, that is normally subject to mandatory disclosure requirements, to foreign auditors.

In the past several days, the US Government has issued a slew of sanctions measures targeting Russia. These represent the first major escalation of sanctions against Russia under the Biden Administration. 3. SEO Key words: Sanctions, Cyber Security, Export Control, Customs, Trade Policy, United States, Russia, Technology, Debt, Loans, SolarWinds