The Russian government is extending anti-sanction measures to support businesses until 2024

The Russian government has approved proposals from the Ministry of Economic Development to extend anti-sanction measures to support entrepreneurship until the end of 2024. The draft law, which is being developed, takes into account recommendations from 22 federal agencies. According to the Prime Minister of the Russian Federation, Mikhail Mishustin, one method of aiding businesses will be to streamline bureaucratic procedures and provide greater freedom to economic participants.

The government will continue to implement measures to support entrepreneurship in various areas, including corporate relations, state procurement, construction, urban planning, and others. The draft law also includes provisions for the possibility of modifying the terms of a state construction contract without unnecessary bureaucracy and grants the right to hold remote general meetings of shareholders, expediting the decision-making process for companies.

Official representatives will focus on reducing administrative and financial burdens, including simplifying license renewals. Deputy Minister of Economic Development of the Russian Federation, Alexey Khersontsev, explained that the draft law could be adopted by the end of 2023.