Russia lists nonfriendly Western countries as offshore With effect from July 1, 2023, the Ministry of Finance of the Russian Federation by its decree expands… Read More
What tax implications should be attributed to self-purchase of shares ex... This question was recently examined by Israeli Supreme Court in the recent ruling on Civil Appeal 9380/20 and… Read More
The Collapse of Signature Bank and Silicon Valley Bank: Legal Consequences The recent bankruptcy of both Signature Bank and Silicon Valley Bank has sent shockwaves through the financial and… Read More
OFAC, BIS, and US Munitions List: a Practical Guide of Sanctions Complia... On February 24, 2023, US Office of Foreign Assets Control (OFAC) has issued a huge update of their… Read More
OFAC and BIS: a Detailed Comparison of Sanctions Regime On February 24, 2023, US Office of Foreign Assets Control (OFAC) has issued an amended Specially Designated Nationals… Read More
The UK Updates its Russian Sanctions List On February 24, 2023, the UK Office of Financial Sanctions Implementation of the Treasure has updated its Russian… Read More
OFAC Updated its SDN list, issues new General Licenses, a new Determinat... On August 24, 2023, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed… Read More
Financial Action Task Force (FATF) Excludes Russia from the Organization On February 24, 2023, the Financial Action Task Force (FATF), a Paris-based intergovernmental body that sets anti-money-laundering law… Read More
OFAC and BIS Provide Clarification on the Expanded List of Sanctioned In... On June 28, 2022, the US Financial Crimes Enforcement Network (FinCEN) and the US Department of Commerce’s Bureau… Read More
OECD Issues an Administrative Guidance on Clarifying the Interpretation ... The Organization for Economic Co-operation and Development (OECD) and the G20 Inclusive Framework on Base Erosion and Profit… Read More
Russia approves legislation allowing Russian legal entities affiliated w... January 17, 2023, Russian President has signed an Executive Order No. 16 “On Provisional Measures applied in the… Read More
Gazprombank (Russia) will cease processing transactions in USD January 2023. Gazprombank (Russia) was notified by two major US banks, JPMorgan Chase, and Bank of New York… Read More
OFAC updates General Licences related to agricultural commodities, medic... December 21, 2022, OFAC has added and revised several general licenses and authorizations issued earlier[1]. The new licenses… Read More
Russian State Duma has prohibited to transfer collected debt money to cr... December 20, 2022, Russian Duma (lower chamber of Russian Parliament) has adopted a new bill No. 155721-8[1] amending… Read More
Russian authorities have determined criteria for foreign companies’ Russ... According to the draft of Minutes of meeting of Russian Governmental Commission for Overseeing of International Investments, December… Read More
EU Adopts Directive on 15% minimal taxation imposed on big business, fol... December 12, 2022, the Council of European Union has agreed on a Directive on ensuring a global minimum… Read More
Russian emergency legislation imposing restrictions on certain transacti... The validity of the restrictions imposed by Executive Order of the Russian President No. 126 dated March 18,… Read More
The RF sanctions foreign energy companies The RF enacted Decree No. 851 on May 11th, 2022 “On measures to implement Presidential Decree No. 252… Read More
The US imposed restrictions on corporate management services to Russian ... On the 8th of May 2022, the United States adopted a new sanctions package against the Russian Federation… Read More
OFAC issued new Russia-related general licenses OFAC issued two revised general licenses and three new general licenses with relation to Russia on May 2nd… Read More
The UK declares a ban on services exports to the RF The UK government announced new prohibitions on exports of several types of services to Russia on May 4th,… Read More
The RF publishes a new Presidential Decree which restricts distribution ... RF President Vladimir Putin signed Decree No. 254 on May 4th, 2022 “On interval procedures for the fulfilment… Read More
The RF enacts a new Decree imposing retaliatory sanctions The RF has enacted the Decree on the application of retaliatory sanctions against unfriendly countries and organizations. The… Read More
Russia continues imposing countersanctions in response to Western countr... On 20th of April 2022, the Russian Federation adopted the Law which sets forth restrictions for Russian credit… Read More
