Although Russia is ranked 131 out of 176 countries on Transparency International's 2016 Corruption Perceptions Index, sharing the spot with Iran, Kazakhstan, Nepal and Ukraine, in its Third Round of Evaluation Report published 21 November 2016, the Group States against Corruption (GRECO) considered Russian anti-corruption law to be fairly robust, as anti-bribery legislation has undergone significant development over the past years and continues to improve. However, levels of corruption and financial abuse remain abnormally high.
Russia is a member of all the main international organisations and conventions on countering corruption and makes efforts to implement all recommendations and comply with international standards. For instance significant amendments are being introduced into national legislation aimed at combating bribery and corruption. The Supreme Court (the highest criminal justice body in Russia) redrafted its binding commentary on public and commercial bribery.
Reproduced with permission from Law Business Research Ltd. The Anti-Bribery and Anti-Corruption Review, 6th Edition, (published in January 2018; contributing editors: Alexei Panich, Partner and Sergei Eremin, Senior Associate). For further information please visit https://thelawreviews.co.uk.
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© Herbert Smith Freehills 2018