Yevtushenkov on Arrests of Russian Businessmen: “This is Our Homeland”

Russian portal Slon.ru published a transcript of the interview with Vladimir Yevtushenkov, Russian businessman who enjoyed USD 9 billion of his worth before he was apprehended for participation in the allegedly illegal privatization of Bashneft oil company that the Russian Government seeked and managed to annul, apparently for the purpose of re-privatization (in lack of…

United Russia Proposes a Bill to Seize Property Belonging to Residents of Countries That Introduced Sanctions Against Russia

On October 15, the online edition of „Profile“ magazine published an interview with United Russia’s State Duma representative Evgeniy Fedorov, author of the bill proposing to nationalize foreign assets in Russia in response to the international sanctions targeting its state officials and businessmen. Once nationalized, the assets would be sold to compensate for any damage…

Russian economist Sergei Guriev: I just want to avoid risking loss of freedom

In his recent interview to radio-station Echo Moskvy, renowned Russian economist Sergei Guriev, known as the Rector of the Moscow’s New Economic School (www.nes.ru), explained his reasons for leaving the country after the Russian Investigative Committee launched an investigation that might lead to a third indictment of a Russian businessman Mikhail Khodorkovsky. Guriev was a…

Latvian bank awarded a temporary injunction against Russian debtor

Business daily Vedomosti (http://www.vedomosti.ru/companies/news/10131851/arest_polatvijski#ixzz2NsXXvP78) reported that the Commercial Court of the Yamal-Nenetsk region ordered a preliminary injunction against a Russian company Severneft, based on a lawsuit filed by a Latvian bank Reverta after Severneft’s decision to liquidate. The Latvian bank is attempting to collect a loan of USD 75 million approved to another Russian company,…

Russia considers making market access for generic drugs more difficult

Yesterday’s business daily Vedomosti.ru reported that the Russian Ministry of Health considers amending the existing law on pharmaceuticals in a way that will make it much more difficult for generic drugs to access the market. The Ministry of Health defined the criteria for substitution of the original drugs with their generic counterparts, requiring the latter to have…

Does the Yukos case precedent jeopardize freedom of businesses to form prices?

Today’s business daily Vedomosti.ru comments on the dictum accompanying the Moscow municipal court’s December dismissal of the petition by Mikhail Khodorokovsky and Platon Lebedev to overturn the first-instance ruling on the second “Yukos” case. Mikhail Khodorkovsky (former Chairman of the Yukos oil company) and Platon Lebedev (former CEO of the Menatep Group, a holding company that had…

Russian Constitutional Court: who is to say what the law is?

Today’s article in Kommersant (www.kommersant.ru) reports that the Constitutional Court of the Russian Federation is not happy with the lower courts’ failure to comply with its rulings. The author Anna Pushkarskaya writes that the argument among the courts escalated into an open conflict and could eventually change the balance of power and authority in the Russian judicial system….