Alexander Ermolenko Gives Interview About New Bill

Alexander Ermolenko, Senior Partner of FBK Legal, has commented on a bill on non-performance of “unfriendly” contracts. In late March, Deputy Pavel Krasheninnikov presented a bill with Civil Code amendments to the State Duma. The document suggests allowing businesses to refuse to fulfil obligations if a contract is impossible to perform as a result of “unfriendly” actions of foreign countries and sanctions imposed by them.

In an interview with Attorney’s Street, Alexander compares the bill with an attempt to “cancel the law of universal gravitation”. In his opinion, the permission to “borrow and never repay” will be a major setback for the Russian law — and future generations will still have to pay for broken obligations.

His full interview is available in Russian here.