Home page Media Legal alerts Recovering damages associated with frozen payments from banks

Recovering damages associated with frozen payments from banks

In Russian case law, the approach to recovering damages from sanctioned banks which occured due to payments made by Russian entities to foreign contracting parties being blocked by foreign correspondent banks is changing.

Highlighting three striking recent cases, our experts Alexander Gavrilov, Principal Associate, and Galiya Balgabaeva, Junior Associate, dealt with the question “Is it possible to recover damages related to payments frozen by a foreign correspondent bank from a Russian bank?”.

For more detailed information, please see the attached document.

 Open PDF

Other legal alerts

Foreign shareholders of large companies may be restricted in their corporate rights
6 February 2023

On 17 January 2023, the President signed Decree No. 16 “On an interim procedure for the governing bodies of certain Russian companies to adopt resolutions.”

New requirements for clearing share deals and pay dividends
30 December 2022

On 30 December 2022, Sub-Commission of the Government Commission on control of foreign investments in Russia established new rules for clearances.

The Supreme Court clarified the Rules for compensation of moral damage
12 December 2022

On 15 November 2022, the Plenum of the Supreme Court of the Russian Federation adopted Resolution No. 33 “On the practice of application by courts of the norms on compensation for moral damage.”

Roskomnadzor published requirements for assessment of data breach impact and data destruction
8 December 2022

On 29 November 2022 as a follow-up to amendments introduced in July of 2022 to the Federal Law “On Personal Data”, Roskomnadzor published clarifications.

Russian government clarifies the procedure for approval of transactions with shares in Russian LLCs for foreign companies
3 October 2022

On 19 September 2022, following the directive given by Presidential Decree No. 618, the Government of the Russian Federation adopted amendments to the Resolution of 6 March 2022 No. 295.

Subscribe