June 28, 2024
RGD Partner Speaks at St. Petersburg International Legal Forum

The 12th St. Petersburg International Legal Forum was held on June 26–28. The law firm Rybalkin, Gortsunyan, Dyakin and Partners (RGD) took part in the event.

Nato Tskhakaya, Partner and Head of Regulatory Practice, spoke at the session "Between a rock and a hard place: ways for international companies to continue doing business in Russia in the face of foreign sanctions and Russian countermeasures." Tadzio Schilling, Chief Executive Officer at The Association of European Businesses, and Ivan Timofeev, the Director General of the Russian International Affairs Council, attended the session. In her talk, Nato cited statistics by the Vienna Institute for International Economic Studies saying that only 9.5% of foreign companies have left the Russian market in the past two years, and another 32% have scaled down their operations. The remaining businesses have been forced to adapt to the new realities.

"On the one hand, the regulatory landscape has changed a lot over the past two years, and on the other, on the contrary, it has stabilized," said Nato Tskhakaya. "For example, there’s now a law on economically significant organizations, which allows domestic beneficiaries to transfer direct ownership of Russian assets owned by foreign holdings. One of the main trends seen in 2023 was redomiciliation, and in 2024, the increasingly popular topic is testamentary foundations created during the lifetime of the founder. Introduced in Russia a few years ago, they are similar to international trusts. Among other things, they allow for succession planning. So, the choice of solution depends on specific goals and objectives; that's what we always tell our clients."

The forum’s program included more than 120 events — roundtables, business sessions, open meetings, working breakfasts, lectures, and presentations. Held each year, the forum is organized by the Roscongress Foundation with the support of the Russian Ministry of Justice.


Rybalkin, Gortsunyan, Dyakin and Partners (RGD), a leading law firm established in 2018, which combines a premier dispute resolution practice and a high-end corporate practice dedicated to complex projects and transactions.

From our offices in Moscow, Yerevan, Tashkent, Belgrade, Dubai, and Ras Al Khaimah we support clients from all over the world in their business dealings in our key practice areas involving Russia and CIS countries. In addition, our firm offers unparalleled expertise in foreign legal matters to Russian companies with significant international presence.

We are a cohesive team of seasoned professionals with a background in leading international law firms.


Our lawyers have worked on the largest corporate deals, investigations and disputes in the history of modern Russia and represented Russian companies in over 170 jurisdictions worldwide.

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