On 4 August 2023, Federal Law No. 470-FZ (the Law) was published. The Law introduced certain mechanisms for the exclusion of foreign holding companies associated with unfriendly states, which hold at least 50% of the voting rights in Russian legal entities that are considered essential for the Russian economy (the Foreign Holding Companies and the Significant Companies, respectively), from the ownership structure of the Significant Companies.
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Draft law No. 1059849-7, which supplements Federal Law No. 160-FZ On Foreign Investments in the Russian Federation, dated 9 July 1999, with a new Article 20 (1), is currently under consideration in the State Duma. The article introduces a legal mechanism allowing Russian purchasers who bought shares (equity interests) in Russian companies previously owned by foreign investors to refuse, subject to a number of conditions, to perform their obligations to return the assets to foreign investors under buyback options and other similar agreements.
21.07.2025