. Last Updated: 07/27/2016

recent legislation

Alcohol imports (Resolutions of Feb. 8, 1996, No. 130, "On Quotas for the Import of Ethyl Grain Alcohol and Alcohol Products Into the Territory of the Russian Federation," and No. 132, "On Excise Tax for Vodka and Liqueurs Containing More Than 28 Percent Alcohol.") These two decrees are part of a package of legislation regulating alcohol production and sale. The first decree provides that import quotas, the volume of which shall be decided by the Economics Ministry, will be sold at auctions organized by an interdepartmental commission.The State Customs Committee may not accept orders or issue tax stamps after April 15 to dealers who have not received quotas or licenses to import. The second decree establishes an excise tax rate of 85 percent which will be applied to imported vodkas and liqueurs delivered after Feb. 12.

Property of organizations (Presidential Decree of Feb. 14, 1996, No. 199, "On Several Measures to Execute Orders for the recovery of the Property of Organizations," and the accompanying "Temporary Regulations on the Procedure for Recovering the Property of Organizations.") The decree approves the temporary regulations and promises further legislation in the coming months which will organize and strengthen the system for confiscating the property of debtor organizations to satisfy creditors' claims. The temporary regulations discuss the procedures for seizing debtor organizations' property, including required documentation, the role and responsibilities of debtors' banks and permissible methods of property disposal or sale.

Coal industry (Presidential Decree of Feb. 9, 1996, No. 168, "On Measures for the Further Improvement of the Structure of the Coal Industry of the Russian Federation.") With the goal of structurally reorganizing and increasing profitability of coal companies, the government will support the introduction into the charter capital of the Russian Coal Company of blocks of stock of subsidiary coal companies. The government will reorganize the Russian Coal Company as an open joint-stock company, and will approve prior to April 1 resolutions on government financing measures for restructuring of the coal industry.

Natural monopolies (Government Resolution of Feb. 12, 1996, No. 140, "On Measures for Limiting the Increase of Prices [Tariffs] for Products [Services] of Natural Monopolies.") The decree limits the tariffs for electricity, heat and natural gas effective from Feb. 1. Natural monopolies will be permitted to increase prices according to price indexes varying according to the industry.

Agro-industrial complex (Government Resolution of Feb. 7, 1996, No. 135, "On Measures for the Stabilization of the Economic Position of the Russian Agro-Industrial Complex in 1996.") The resolution orders the Agriculture Ministry to take steps to ensure the production of specified volumes of grains, vegetables, milk, poultry and other agricultural products during 1996. It addresses the structural, financial and technical means to be employed by various government agencies to achieve these production quotas.

Source: White & Case