Revision to Russian Competition Law

On October 20, the Moscow office authored an Alert entitled, “Revision to Russian Competition Law.” The alert discusses Federal Law No. 135-FZ On Protection of Competition (the “New Competition Law”). The New Competition Law supersedes the Law of RSFSR No. 948-I On Competition and Limitation of Monopolistic Activity on the Commodities Markets, dated March 22, 1991, and Federal Law No. 117-FZ On Protection of Competition on the Financial Services Market, dated June 23, 1999, which applied to banks. The New Competition Law became effective on October 26, 2006 so that any application filed with the Russian antimonopoly authorities after that date will be considered under the new regime. The Alert discusses key aspects of the new law.