On 10/03/2022 the Chamber of Trade and Commerce of the Russian Federation (CTC of Russia) announced that the competent territorial Chambers of Trade and Commerce will organize the process of issue of force-majeure certificates for contracts, made in due course of Russian domestic economic activity. It has also been declared that the CTC of Russia will carry out the issue of force majeure certificates for both, domestic and foreign trade contracts, on gratuitous basis from 10 March, 2022 till 30 April, 2022.
Senior Associate of Linnikov & Partners Anton Minakov comments on the official communique of the CTC: “By announcing its decision the Chamber of Trade and Commerce sends a clear message to all market operators that it would be admissible to appeal to force-majeure in cases of full or partial inability to perform contractual obligations and that force-majeure may be used as viable grounds for re-negotiating substantial terms of contracts made with foreign counterparts. Let me remind that back in 2014, when the first set of sanctions against Russia caused substantial difficulties in performance under domestic and international contracts and caused, intera alia, significant fluctuations of the currency exchange rates, the CTC, the state authorities and courts in most cases refused the parties to recognize actual events and political and economic acts of the state as force-majeure. Today we operate in a unique and rapidly changing environment. New approaches of the CTC and the state to establishment and certification of force-majeure circumstances and the practice of their recognition will be formed in front of our eyes and with our active involvement in the very near future”.
