Legislative Developments, Enforcement Practice, Trade Law, Merger Control And Notification Versus Approval In Intra-Group Transactions

LEGISLATIVE DEVELOPMENTS

The Third Antimonopoly Package: Key Developments

According to the Federal Antimonopoly Service (FAS), amendments to the Law on Competition (the "Competition Law," the Code of Administrative Offenses and the Criminal Code, comprising the so-called "third antimonopoly package," have been substantially agreed with the Russian government and will soon be submitted to the State Duma. FAS estimates that the package will be adopted before the State Duma's 2011 summer recess.

On balance, these amendments will add clarity, and, consistent with other government initiatives, will eliminate criminal liability in certain cases, which should improve the business environment for M&A in Russia.