Risks for foreign shareholders of breaching management duties in Russia

As we have learned from publicly available acts and news, sanctions imposed in the EU, UK and certain other jurisdictions include, inter alia, restrictions on providing business and management consulting services to persons connected with Russia (including subsidiaries of foreign companies active in our jurisdiction), while the scope and exposure of such restrictions is not yet well defined.

In the meantime, we would like to caution you that current Russian civil and corporate legislation contains a number of obligations for shareholders of Russian companies that they must observe while being present in Russia regardless of their jurisdictions and foreign law restrictions in place.