Insights

The Russian government has adopted rules setting out the procedure for preliminary review of transactions entered into by foreign investors with respect to Russian legal entities. The rules do not provide guidance on the types of transactions that fall within the scope of preliminary review or the process by which parties would be able to seek the Strategic Investment Commission’s clearance prior to the closing of transactions.

On April 4, 2018, Skadden hosted a webinar titled “Year Two of Trump Antitrust Merger Enforcement: What to Expect in 2018.” The Skadden panelists were antitrust/competition global head Steven C. Sunshine and antitrust/competition partner David P. Wales. Below are some key takeaways from the presentation.

On April 6, 2018, the Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against seven Russian oligarchs and 12 companies they own or control, as well as 17 senior Russian government officials, a state-owned Russian weapons-trading company and its bank subsidiary. The sanctions create both “primary” or “secondary” sanctions risks for both U.S. persons and non-U.S. persons. Concurrently, OFAC issued two general licenses permitting certain transactions and activities necessary to wind down dealings with or divest interests in certain of the sanctioned companies.