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Clifford Chance

Clifford Chance


We've had a presence in Russia since 1991. We advise clients on their Russian and international business and help them manage and prepare for change.

Over two decades of Russian know-how

We know Russia well and use our experience of Russia’s fast-moving business and legal environment to help clients achieve their business goals and to manage the risk that inevitably comes with this.

We understand the market and the key players, as well as the legal framework. We advise Russian companies on their domestic and international business and work with international corporates looking to do business in the Russian market, keeping ourselves at the sharp end of legislative change. For example, we have advised on industry submissions on a suite of laws designed to develop the local financial infrastructure, and on the effective rewriting of the Russian Civil Code.

An on the ground capability that delivers

Our Moscow-based team includes 7 partners and around 60 lawyers in total. We work across Russia and the CIS states, including the central Asian republics, and our full-service offering ranges from finance and M&A to tax and litigation. While over a third of our lawyers are qualified in Russian law, all are experienced in working with and under English law, and we can advise clients in both languages. And when we work on international transactions we can call on the expertise of over 3,200 lawyers in our international network.

We have what it takes to protect your position, to find solutions, and to deliver the deal in even the most complex domestic and cross-border transactions.

For instance, Clifford Chance Moscow advised the Ministry of Finance of the Russian Federation in connection with its benchmark US$3 billion and its tap EUR750 million sovereign Eurobond issues.

Other notable recent examples include:

  • advising Metrika Investments, a part of the ROSSIUM group, on the acquisition of the office part of Neva Towers (formerly Renaissance Moscow Towers) 
  • advising Societe Generale on a sustainability-linked US$75 million credit facility for Polymetal
  • asvising PhosAgro on its US$500 million Eurobond issue with a new record low US$ coupon among Russian issuers.

The teamwork and the resources that get the best possible results

When we work on complex multi-jurisdiction matters we work in extended teams that include colleagues from other practice groups and jurisdictions. We’ve learnt that this kind of teamwork gets the best results. It helps us get the most out of our own resources, it helps clients reach their business goals and it also helps to keep costs down.

We find that the closer we work with clients, the more effective we can be. So we invest time and effort in building close working relationships. We want to understand your business drivers, talk through your plans and ideas, and find the right way to tailor our team and advice to your needs.

Recent highlights

  • Advising the Ministry of Finance of the Russian Federation in connection with its benchmark US$3 billion and its tap EUR750 million sovereign Eurobond issues.
    VTB Capital and Gazprombank acted as lead managers of both issues.
    According to VTB Capital, demand for the new USD-denominated issue reached US$7.5 billion, and exceeded EUR3 billion for the EUR-denominated tap. The majority of investors in the USD-denominated issue were from the following jurisdictions: 
    • 55 per cent. from the United Kingdom;
    • 21 per cent. from the United States;
    • 11 per cent. from the Russian Federation; and
    • 9 per cent. from the rest of the Continental Europe
    • The EUR750 million tap issue also saw a very strong demand from international investors, with European and US investors purchasing over 85 per cent. of the issue.



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