Russia’s investigators will be able to obtain statements on bank transactions and accounts held by companies and individual entrepreneurs, as well as data on operations, accounts, and deposits by individuals, only on the basis of a court order. Russian President Vladimir Putin signed the amendment into law at the end of June. Both chambers of parliament had approved the bill.
Depositors may be licking their wounds, and hoping for some kind of structured assistance by Russia to crippled Cypriot banks, but only a small number of Russian companies are leaving the island.
Parties to an alleged Pollock fishing cartel in the Russian Far East could face charges from international regulatory authorities, several Russian antitrust lawyers told PaRR.
The authorities are developing new urban planning regulations within the Boulevard Ring, according to which the volume of construction will be limited. The "surgical cutting" may well reach 200,000 sq.m.
Iran's lawsuit against Russia for its refusal to supply S-300 air-defence systems could have serious political consequences. Kommersant has learned that the leadership of the Russian Federation has made the decision that unless Tehran withdraws the suit, Moscow will deprive it of international support and occupy a tougher position on Iran's nuclear problem. Moreover, Kommersant has learned that the claims of the Iranian authorities that the sum total of the lawsuit that they have filed amounts to only $900 million (not almost $4 billion) do not entirely correspond to reality.
On weekends, holidays and the days of major cultural events, Moscow's center may be announced as a car- free zone. The authorities promise to account for all the consequences of the restrictions for thecapital's transport system and to organize additional parking spaces in locations where the blockages are set up. However, how will the new measure affect retailers located on the central streets?
Envelopes filled with cash are being replaced by more high-tech means of bribery and corruption.
Kazakhstan's Aksai City, a dusty outpost just across the border from Russia, is a key gateway for energy companies seeking to tap one of the country's richest oil and gas deposits, the Karachaganak field.
German newspaper Handelsblatt publishes commentary by Michael Hartleben on Supreme Arbitrazh Court of the Russian Federation president’s proposals to grant the Russian courts powers to set aside foreign court judgments and international arbitration awards that prejudice interests of Russian parties.
Ilona Zekely is regular contributor to Wirtschaftsblatt's column, focused on economy of Eastern Europe.
A company in the Urals has sued for the rights to the Playboy trademark, saying that the current owner, Playboy Enterprises, is not using it to produce condoms and lubricants like it ought to.
Former BP-nominated director of Anglo-Russian TNK-BP Holdings, Richard Scott Sloan, and BP Exploration Operating Company (BP EOC) are going to seek a total of approximately $1 million in damages from a TNK-BP Holding minority shareholder, according to Denis Arkhipov, senior associate at the Russian legal firm that represents BP's interests in the case.
Parliament members are debating a draft law that would give state agencies greater access to people's personal bank account details.
Russian business lawyers are cautiously optimistic, but concerns over corruption and the reliability of the country's commercial courts still beset legal practice in a country striving to take its place on the global stage.
Providing a snapshot of the business market in Russia, some of the leading lawyers in Moscow share their insights on trends and developments in the banking and finance, IPO, M&A and energy sectors over recent months.