On May 22, 2023, the President of Russia signed Decree No. 364 (“Decree 364”) On Certain Amendments to Decree of the President of Russia No. 430 dated July 5, 2022 (“Decree 430”) requiring Russian businesses who have issued Eurobonds to issue replacement securities to enable holders whose bonds are held through Russian depositaries to receive payments.…
Continue Reading Russian Obligors Are Required to Issue Russian Bonds Replacing their Eurobonds
On 19 May 2023, the UK expanded its list of Designated Persons under the Russia (Sanctions) (EU Exit) Regulations 2019 by adding 86 new persons, comprising 42 individuals and 44 Russian legal entities. The newly Designated Persons are primarily involved with, or linked to, the defense, transportation, extraction, metallurgy, financial and agricultural sectors of the Russian economy. This expansion of sanctions appears to follow the G7 Leaders’ Statement on Ukraine, which was also issued on 19 May.…
Continue Reading UK Russian Sanctions Expanded Following G7 Summit
On April 25, 2023, the President of Russia signed Decree No. 302 On Temporary Management of certain assets, including movable and immovable assets and equity interests in the capital of Russian legal entities, that appoints the Federal Agency for State Property Management as the temporary manager of such assets and allows the agency to exercise all the rights of the owner of such assets, other than to dispose of the assets.…
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