Post-release from "Back to the Future-2" business breakfast

On April 27, “Back to the Future-2" BestBreakfast was held, dedicated to business development in Russia. The participants discussed the impact of recent events on the Russian economy and possible strategies for minimizing losses and adapting to new conditions.

Maxim Simonov, Partner, Head of Tax Practice at Duvernoix Legal, highlighted the key issues relevant to business today: nationalization of foreign assets, purchase of Russian business from foreign partners, export and import of goods, business infrastructure and banking, receiving payments from foreign counterparties – in conditions when foreign banks do not allow payments, tax and currency consequences, restrictions and risks. Main trends: total import substitution; parallel import – responsibility abolished, new markets for imports and the flourishing of online trade; settlements in rubles and “new” currencies (yuan, dirhams)".

Igor Gushchev, Senior Partner of Duvernoix Legal:

"It seems to me that the question of how deep is our fall is still hanging in the air, since we are still falling. There is an interesting situation in law right now: part of the economy has been sanctioned, and we are busy building various logistics schemes that allow companies to continue their activities. No one really wants to leave the Russian market, everyone is trying to find a way out of the current situation, and competition is intensifying."