RUSSIA PROPOSES HARSH NEW COUNTER-SANCTIONS

On 17th April, Baker McKenzie published a Legal Alert saying that Russian lawmakers have proposed a draft Bill – “On Measures (Countermeasures) in Response to Unfriendly Actions of the USA and (or) other Foreign States” – which if adopted could result in severe repercussions for almost all economic activity by foreign companies in Russia.  The countermeasures are drafted broadly, their focus and actual content would be implemented by Presidential decrees.  The Alert says that the State Duma is expected to consider the Draft on April 24th and it has a very high chance of being approved and introduced within the next few weeks.

https://f.datasrvr.com/fr1/818/23543/2_Legal_Alert_-_Russia_Proposes_Harsh_New_Counter-Sanctions_ENG.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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