Foreign companies are panicked because “the Kremlin report»

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Photo: Chip East / Reuters

Foreign corporations, cooperating with Russian companies, after the publication of “Kremlin report” began to “play safe” and ask for their contractors in Russia to include in the treaties the so-called sanctions clause. Reported video News Service, citing a partner of St. Petersburg office of international law firm Dentons Artem Zhavoronkov.

According to him, such items about the sanctions risks allow to unilaterally terminate the agreement if the counterparty will be specified in the “Kremlin report”.

“First and foremost is the European and American companies, especially from the sphere of IT-developments. Requirements for inclusion of an item on sanctions risks often act against Russian companies from the banking and energy sectors,” said lark.

Information about these agreements also confirmed the managing partner Tomashevskaya & Partners Zhanna Tomashevskaya, an employee of a large retail company, lawyer at Russian direct investment Fund and the source in one of Russian industrial companies. The Tomashevskaya noted that this practice had already taken place in 2014 after the first wave of sanctions.

At the end of January the Ministry of Finance of the USA has presented the American Congress “Kremlin report” — a list of high-ranking officials and oligarchs close to Russian President Vladimir Putin. In total, the list includes 210 people. The report did not mean the imposition of sanctions. In addition, it was expected that the Agency will impose a ban on investments in Russian state debt. However, the US Treasury Secretary Steven Mnuchin later explained that Washington is considering the imposition of sanctions “against bad personalities and companies and not in respect of the debt”.

In February it became known that the Russian business was faced with challenges due to the us report. So, one of the oligarchs said that after the document can not close the subject of negotiations a few months a deal with a foreign counterparty.

Video, photo All from Russia.



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