Oleg Ushakov
Oleg Ushakov


  • Chambers Europe (2016-2020)
  • The Legal 500 (2019-2020)
  • Best Lawyers (2018-2020)
  • Pravo.ru-300 (2020-2021)

21, 1st Tverskaya-Yamskaya Str.,
Moscow, 125047, Russia

Tel.: +7 (495) 935 8010
Fax: +7 (495) 935 8011


Oleg Ushakov leads teams which offer counsel on capital market transactions such as offering of bonds and shares, IPOs and securitizations. In addition, Oleg advises on the legal aspects of project finance, brokerage, as well as licensing in banking and finance, establishing joint ventures (including those under shareholders agreements) and counselling on M&A transactions.

Oleg has advised several dozen Russian market securitizations with a total value of over RUB 40bn. His recent highlights are:

  • Two securitizations of the Bank St Petersburg’s mortgage assets, with a total value exceeding RUB 10bn;
  • The first ever Russian securitization of financial (non-mortgage) assets for the benefit of Credit Europe Bank JSC;
  • A pilot securitization of mortgage assets from the Sberbank of Russia, involving a private offering of senior tranches for the benefit of the State Corporation Bank for Development and Foreign Economic Affairs (Vneshekonombank);
  • The unique securitization of Absolut Bank’s mortgage assets, where the senior-tranche bonds have been granted Moody’s and Standard & Poor's investment grades at once;
  • The first ever Russian securitization of Khanty-Mansi Bank Otkrytie’s mortgage portfolio, involving non-mortgage loans;
  • Securitization of a commercial mortgage for the benefit of Region Group;
  • One of Russia’s largest off-books securitizations of Bank of Moscow’s portfolio of mortgage loans. The aggregate volume of bond issues has exceeded RUB 25bn.

In addition, Oleg counselled on the Mortgage Securities Factory project launched by the Agency for Housing Mortgage Lending (currently Dom.RF), the offering of the first issue of listed bonds at the Moscow Exchange under the multi-currency program of RUSAL Bratsk listed bonds whose total exceeded RUB 15bn, issues of VEB-Leasing’s US dollar bonds, issues of Belarus Republic’s bonds, and a number of project finance deals (for the benefit of Mechel-Mining, RUSNANO among others).

Oleg was also engaged in the development of laws and regulations, namely Law No. 115-FZ “On Amending of the Federal Law “On Joint-Stock Companies” and Article 30 of the Federal Law “On the Securities Market” dated June 3, 2009; Law No. 461-FZ “On Amending of Article 17 of the Federal Law “On the Securities Market” and the Federal Law “On Mortgage Securities” dated December 30, 2015 meant to secure issuance of mortgage-backed bonds on a program basis; Law No. 379-FZ “On Amending of Certain Russian Laws” dated December 21, 2013, i.e. the “Securitization Law”.

Prior to joining the Firm in 2014, Oleg worked at the boutique law firm Liniya Prava, the legal department of the Siberian Coal Energy Company, and other well-known Russian entities.

He is recommended for Banking & Finance and Capital Markets by Chambers Europe, The Legal 500 EMEA, Best Lawyers.

Oleg graduated from the Law School of the State University – Higher School of Economics and is fluent in English.

He has been admitted to the Moscow Bar Association.


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