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The Buzz in Russia: Interview with Anton Bankovskiy of CMS

The Buzz in Russia: Interview with Anton Bankovskiy of CMS

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Partly due to the Covid-19 pandemic, Russia’s legislative process has slowed down, says CMS Moscow Partner Anton Bankovskiy. “However,” he says, “the ‘regulatory guillotine,’ – the ongoing process of amending or eliminating the many laws remaining from the country’s Soviet past – has picked up pace.” In addition, he says, “the State Duma recently passed new laws introducing the ‘regulatory sandbox’ framework, which enables companies and entrepreneurs to implement innovative technologies, unrestricted by the current legal limits related to those technologies.” 

The economy itself is fairly stable, Bankovskiy says, noting that that “other than the Nord Stream 2, I am not aware of any major new developments.” Well, except for one. “Of course, the pandemic has affected our economy as well, so some industries are not very active. There has been a noticeable drop in M&A transactions and the corporate sector as a whole. Which isn’t to say that law firms have no business, of course, as we can see an increase in litigation and other dispute resolution practices.”