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Russia > Law firm and leading lawyer rankings

Editorial

Doing Business in Russia

Contributed by Capital Legal Services

Business environment

2015 versus 2014: changes impacted how business is conducted

2015 was a challenging year for Russia, bringing significant changes to the country’s macroeconomy and serious restructuring of national legislation.

Particularly, sanctions imposed on and by Russia gave a strong impulse to localisation procedures, development of local production facilities and agricultural projects, and active involvement of investors in different areas of the Russian market. The state also adopted favourable terms for investments in infrastructure projects.

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Legal market overview

Russia’s turbulent economic climate continues to have a marked impact on instructions and deal flow, and work volume has been notably affected by sanctions, low oil and commodity prices, and restricted access to international capital markets. Sanctions are now being treated as a long-term development by law firms, which have made significant efforts to plan around the restrictions and develop new products and services to compensate for a decline in traditional mandates.

Despite this, the market attracts considerable mandates from the CIS region and Russian state-owned enterprises, while investor interest from China and the Far East has been a notable trend throughout 2016. Chinese banks and private equity funds have made significant investments into Russian projects and joint ventures, particularly within the infrastructure, oil and gas, consumer goods and agricultural sectors.

Dispute resolution matters have accounted for a sizeable proportion of firms’ workloads, particularly bankruptcy and white-collar crime issues, with criminal defence earmarked as an area of practice that has significantly expanded over the last year. Competition disputes before the Federal Antimonopoly Service (FAS) remain prevalent, as do disputes regarding IP infringement, shareholder disagreements and debt recovery.

The energy, projects and PPP space generates a healthy flow of work, though market restrictions have created a challenging environment for firms and investors alike. As a result, there has been increased demand for regulatory and compliance advice across all areas of practice.

Linklaters, Clifford Chance, Herbert Smith Freehills CIS LLP and Dentons are among the major international firms with a strong presence in the Russian market, while Egorov Puginsky Afanasiev & Partners, ALRUD Law Firm, Pepeliaev Group and Monastyrsky, Zyuba, Stepanov & Partners are some of the go-to Russian firms.

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Legal Developments in Russia

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
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    The Federal Tax Service of Russia issued Letter â„– CA-4-7/ 6152 @ of 16.08.2017, in which it clarified to its subordinate tax authorities the application of new Art. 54.1 of the Tax Code of the Russian Federation "Limits on the Exercise of Rights in Calculating the Tax Base and (or) the Amount of Tax, Levy, Insurance Contributions", which was included in the Tax Code of the Russian Federation by Federal Law â„– 163-FZ of 18.07.2017.
  • Information law for company participants – the search for a balance of interests

    At the present time, in various legal relationships there exists the acute problem of observing a balance of interests concerning the parties involved in these legal relationships, their legal rights, and their mutual economic needs. Judicial practice, when considering disputes between these kinds of parties, takes into consideration not only the formal requirements of legislation, but also the real economic and legal goals and interests of the participants.
  • What businessmen should know about legislative changes with major and interested transactions?

    It is well known that before making significant managerial decisions, the general director must obtain approval from the shareholders or the board of directors. Apart from that, if a director is personally interested in entering into a transaction, approval is also required to proceed with the transaction. In the absence of such an approval, the transaction can be challenged and, in certain circumstances, invalidated. In order to minimize such risks and to eliminate legal uncertainty for the parties to the transaction, the rules governing major transactions and interested transactions must be sufficiently clear. Previously, however, the application of these rules was associated with a large number of controversial legal issues, which were finally solved as a result of the legislative amendments, which will enter into force on January 1, 2017. According to the new amendments, the distinction between major and non-major transactions has been delineated more clearly, parties have been allowed more flexibility in relation to approving transactions, the burdensome obligation to obtain prior approval of interested transactions has been abrogated, and finally the procedure for challenging transactions in question has been made much more complex. Overall, the changes should have a positive influence on business, as they contribute to the establishment of firm legal certainty in this area of the law. 
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Press Releases in Russia

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to