Linklaters has advised Sovcombank as arranger on the RUB 5.7 billion domestic green project bonds issued by an orphan special purpose vehicle, SFO RuSol 1 LLC, for the purpose of financing two solar stations of Solar Systems LLC in the Astrakhan region of Russia. Bryan Cave Leighton Paisner reportedly advised the issuer.
Integrites and Switzerland's HFW law firm have advised MUFG Bank and a syndicate of lending banks including Citi, Credit Agricole, and Societe Generale on a limited recourse term loan to finance Trafigura’s acquisition of copper cathodes from the Swiss trading arm of the Russian mining group Norilsk Nickel.
Although not specifically related to Russia, the agreement by the Office of Foreign Assets Control (OFAC) between it and the Apollo Aviation Group (Apollo) on the monetary compensation for the settlement of violations by Apollo of the Sudanese Sanctions Regulations that was announced on November, 7 2019, affects the aircraft leasing sector worldwide.
Sanctions imposed by the U.S.A, the EU, and other jurisdictions in relation to certain Russian individuals and legal entities have had a substantial impact on international arbitration involving Russian parties. There exist serious concerns as to the ability of sanctioned Russian parties and their contractual counterparts to realize their right to defend themselves in the course of arbitration proceedings. These concerns have led to changes in market practice regarding the choice of the arbitration forum and to some legislative proposals in Russia that, if implemented, would have a dramatic impact on international arbitration involving Russian parties.