In a dramatic escalation of the rift between Russia and the West, the Russian Federation has issued an edict allowing its citizens to copy and use Western patents without payment or requiring authorization for use. Regulation No. 299, issued on and in effect as of March 6, amends the prior decree on licensing patents to state that Russians will pay 0 percent for patent use to those who reside in what Russia has defined as an "unfriendly nation."

The Russian Federation has issued a list of 48 "unfriendly nations," including the United States and Canada; the European Union (EU) member states; the United Kingdom (including Jersey, Anguilla, the British Virgin Islands, and Gibraltar); Ukraine; Montenegro; Switzerland; Albania; Andorra; Iceland; Liechtenstein; Monaco; Norway; San Marino; North Macedonia; Japan; South Korea; Australia; Micronesia; New Zealand; Singapore; and Taiwan.

More specifically, the regulation states:

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.