Starting June 17th, 2022, Russian residents can receive proceeds from the sale of foreign shares into their non-Russian brokerage or bank accounts as long as the proceeds are received from non-Russian residents in non-Russian...more
This guidance does not constitute legal advice. To the extent that you have any questions arising out of the guidance, please speak to a member of the Orrick team who will be happy to assist. The invasion of Ukraine by...more
5/11/2022
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Blocking Sanctions ,
Economic Sanctions ,
EU ,
Foreign Bank Accounts ,
Foreign Investment ,
International Tax Issues ,
National Security ,
Russia ,
Technology Sector ,
UK
On March 18, 2022, the Russian Central Bank clarified that the restrictions imposed under Decree No. 81 (see our earlier alert below) do not apply if a Russian resident acquires shares from a company of an “unfriendly”...more
The Russian President has issued Decree No. 81 — “due to the unfriendly actions of the US and other countries in violation of international law” — establishing special procedures for any transactions leading to the transfer...more