PRESIDENT CONSULT

On 21 July, 2012 the Russian Federation Council ratified the protocol of 16 July, 2011 "On the Accession of the Russian Federation to the Marrakesh Agreement about Establishing the World Trade Organization on April 15, 1994".

The protocol states that Russia will undertake all obligations under the Marrakesh Agreement about Establishing the WTO. Additional terms of membership, as agreed during the negotiation process, are reflected in the list of concessions and obligations on access to goods and services market.

The obligations of the Russian Federation on access to goods market include: export, import duties, the volume of trade-distorting support for agriculture, tariff quotas and export subsidies. The minimum and maximum duty rates and the level of annual decline are documented in the tariff agreement, as well as the transitional period when the final reduction of duties should be implemented.

The transitional period for liberalizing market access is 2 - 3 years, and 5 - 7 years for sensitive goods.

The protocol will enter into force on the thirtieth day following its adoption by the Russian Federation.

On December 6, 2011 the Federal Constitutional Law "On Amendments to the Federal Constitutional Law "On the Judicial System of the Russian Federation" and the Federal Constitutional Law "On Arbitration Courts in the Russian Federation" in connection with the establishment of the Intellectual Property Rights Court in the Arbitration Court System" was signed.

The Intellectual Property Rights Court (IP Court), a special court for the protection of intellectual property rights in the system of arbitration courts, is to be established not later than on 1 February 2013.

On December 7, 2011 the Federal Law "On Amendments to the Criminal Code of the Russian Federation and Certain Legislative Acts of the Russian Federation", aimed at humanization of criminal legislation of the Russian Federation was signed.

Intentional and negligent acts have been included in crimes of minor severity which are punishable by imprisonment not exceeding three years (previously - two years). For medium severity crimes – including negligent acts - the maximum penalty exceeds three years imprisonment (previously - two years).

On December 16, 2011 a protocol on the Russian accession to the World Trade Organization (WTO) was signed. After its ratification, the protocol becomes an international treaty for the Russian Federation.

Dear ladies and gentlemen!

PRESIDENT CONSULT wishes you a Marry Christmas and a Happy New Year!

We wish you a fruitful and successful year!