Risks for foreign shareholders of breaching management duties in Russia

Risks for foreign shareholders of breaching management duties in Russia

15 May 2024

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.

More details here:

We hope that the information provided herein will be useful for you.

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Note: Please be aware that all information provided in this letter was taken from open sources. Neither ALRUD Law Firm, nor the author of this letter bear any liability for consequences of any decisions made in reliance upon this information.

If you have any questions, please, do not hesitate to contact us.

ALRUD Law Firm

Skakovaya str., 17, bld. 2, 6th fl., Moscow, Russia, 125040
Т: +7 495 234 96 92, Т: +7 495 926 16 48, info@alrud.com
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