2 April 2020
The Coronavirus (COVID-19) pandemic has prompted unprecedented measures by many countries. International and domestic travel have been significantly curtailed. Restrictions have been imposed on various types of business (the "Government Measures").
Many companies and entrepreneurs are facing difficulties fulfilling their obligations, whether under supply contracts, works contracts, loans, leases or rental agreements.Questions inevitably arise as to whether the Pandemic and the Government Measures constitute grounds for termination or modification of obligations and/or release from liability for default. In this briefing we analyse the potential impact of the Pandemic and the Government Measures on contractual relations from the standpoint of Russian law. We will also cover certain recent statutory acts that directly affect the rights and obligations of parties to contractual relationships.