Climate change and sustainability have become trending issues in Russia with the government encouraging “green” projects. The Russian authorities have been steadily implementing legal acts confirming Russia’s commitment to high standards of energy efficiency and setting out practical steps to be undertaken to achieve these. In this article we summarize the most notable developments and most anticipated legal acts in the sphere.
Hogan Lovells has advised coordinating mandated lead manager ING Bank N.V. and mandated lead arrangers Credit Agricole Corporate and Investment Bank, NATIXIS, SGBTCI, AO Raiffeisenbank, Bank of America Merrill Lynch International Designated Activity Company, Mizuho Bank, Ltd., Deutsche Bank AG, London Branch, Bank ICBC (JSC), UniCredit S.p.A., and Intesa Sanpaolo Bank Ireland Plc on a EUR 600 million revolving loan facility agreement with Russia-based steel producer NLMK.
On 20 July 2020, laws governing the activities of financial marketplaces came into force, namely, Federal Law* No. 211-FZ “On Concluding Financial Transactions Using a Financial Platform” dated 20 July 2020 and Federal Law* No. 212-FZ “On Amendments to Certain Legislative Acts of the Russian Federation Concerning the Conclusion of Financial Transactions Using a Financial Platform” dated 20 July 2020 (the “Laws”).