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24 December 2015

Russian Arbitration Reform: Key Provisions

On 29 December 2015, the Russian President signed the Federal Law “On Arbitration in the Russian Federation” (“The Law on Arbitration”) and Federal Law “On Amendments to Certain Laws of the Russian Federation…” providing for fundamental reform of domestic arbitration.

23 December 2015

Ukraine Facilitates Property and Other Registrations

On December 13, 2015, new legislation introducing a number of substantial novelties in the property registration system in Ukraine (the “New Law”) entered into force. Although already modernized in the past years, property registrations have been often seen as the area of typical bureaucracy and transparency issues. As briefly summarized below, the changes proposed in the New Law are generally aimed at facilitation of property registrations by ensuring higher accessibility of registrations.

8 December 2015

The NBU Reinforces FX Restrictions

The National Bank of Ukraine (the “NBU”) has adopted resolution No.863 dated 4 December 2015 (“Resolution 863”) aimed at stabilisation of the situation on Ukrainian FX market.

9 November 2015

Ukrainian Ministry of Healthcare Changes Authorization Process for Medicinal Products

With effect from 30 October 2015, a new order of the Ministry of Healthcare of Ukraine (the “Order”) introduced a number of significant changes to Ukrainian drug review and authorization process.

6 November 2015

Legal Alert: Sovereign Immunity: Russia Adopts a Restrictive Approach on a Reciprocal Basis

On November 3, 2015, the President of the Russian Federation signed the Federal Law № 297-FZ on Jurisdictional Immunities of Foreign States and Property of Foreign States in the Russian Federation (the Law). The Law will take effect from January 1, 2016 (Art. 18). By passing the Law, Russia has endorsed the restrictive theory of sovereign immunity entirely, and ruled out the dichotomy which exists between the Code of Civil Procedure and the Code of Commercial Procedure.

23 October 2015

Legal Alert: National Bank of Ukraine Modified Some of Its FX Restrictions

The National Bank of Ukraine (the “NBU”) adopted Resolution No. 718 dated 22 October 2015 “On Introduction of Amendments to Resolution of the Management Board of the NBU dated 03 September 2015 No. 581” (the “Resolution 718”) which modified certain of the NBU’s restrictions introduced (or prolonged) in September 2015.

13 October 2015

EPAM Legal Highlights: Introducing Federal Law "On the Free Port of Vladivostok"

On October 12, 2015, Federal Law of July 13, 2015 No. 212-FZ “On the Free Port of Vladivostok” (the “Free Port Law”) entered into force.

7 October 2015

Legal Alert: New E-Commerce Law: De Facto Becomes De Jure in Ukraine

Ukraine aims to catch world e-commerce train, which is better later than never.

6 October 2015

Legal Alert: National Bank of Ukraine Implemented Sanctions of National Security and Defense Council of Ukraine

The National Bank of Ukraine (the “NBU”) adopted Resolution No.654 dated 1 October 2015 “On Ensuring Implementation and Monitoring of Efficiency of Personal Special Economic and Other Restrictive Measures (Sanctions)” (the “Resolution 654”) aimed at implementing, within Ukrainian banking and finance market, certain financial sanctions adopted by the National Security and Defense Council of Ukraine (the “NSDCU”) in September 2015.

30 September 2015

Apartments in St. Petersburg’s “Golden Triangle” Within Reach for Mid-Level European and US Investors

European and US investors may have a substantial advantage when buying apartments in the centre of St. Petersburg. The development comes as the result of favourable RUB/EUR/USD exchange rates and the benefits provided by the city administration for investors and people living in communal apartments.

16 September 2015

Legal Alert: Fourth Antimonopoly Package: What’s New?

7 September 2015

Legal Alert: Further Extension and Liberalisation of the FX Restrictions Adopted by the National Bank of Ukraine

The National Bank of Ukraine (the “NBU”) has adopted resolution No.581 dated 3 September 2015 (the “Resolution 581”) aimed at stabilisation of the situation on Ukrainian FX market. According to the Resolution 581, the NBU has generally extended all of the previously existing temporary restrictions. The Resolution 581 shall be effective as of 4 September 2015 until 4 December 2015.

31 August 2015

Legal Alert: Ukraine: Trademarks Searches Are Free Almost

On August 21, 2015, the Ukrainian Patent Office granted free access to its on-line database of pending trademarks applications

7 August 2015

Legal Alert: Ukraine Ratifies Double Tax Treaty With Ireland

Ukraine has completed ratification procedures for Double Tax Treaty (“Treaty”) between Ireland and Ukraine and Protocol thereto signed on 19 April 2013. On 15 July 2015 the Ukrainian parliament approved the ratification law, subsequently signed by the President and officially published.

2 July 2015

Legal Alert: National Bank of Ukraine Liberates Maximum Interest Rate Limitations in Order to Facilitate Restructuring of Certain Foreign Loans Raised by Ukrainian Borrowers

The National Bank of Ukraine (the “NBU”) has adopted a resolution “On Making by Resident Borrowers of Certain Payments in Repayment of External Debt under Loans, Advances in Foreign Currency” No.409 dated 23 June 2015 (the “Resolution 409”) aimed at facilitation of restructuring by Ukrainian borrowers of certain loans raised from foreign lenders.