The State Duma proposed to allow businesses to terminate contracts due to sanctions
Photo is illustrative in nature. From open sources.
If the bill is passed, businesses will be able to terminate or “freeze” contracts. We are talking about cases
A draft law has been submitted to the State Duma, which, if adopted, will allow businesses to terminate or “freeze” a contract if, due to sanctions, it cannot fulfill its obligations. The document was published in the electronic database of the lower house of parliament.
As stated in the explanatory note to the project, if a business cannot fulfill previously concluded obligations due to sanctions imposed against it by unfriendly countries, then:
the obligation is terminated in full or in the relevant part if the performance of the obligation becomes definitively impossible; the obligation is “frozen”, and the person is not responsible for its non-fulfillment or improper fulfillment, if he proves that proper fulfillment objectively turned out to be temporarily impossible; the party to the obligation has the right to withdraw from the contract (from the performance of the contract) if the other party is objectively unable to temporarily perform its performance, but must warn about this in advance.The new rules are proposed to apply to contracts concluded after February 24, 2022 inclusive.
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