Although Russia was ranked 135 out of 180 countries on Transparency International’s 2016 Corruption Perceptions Index, sharing the spot with such countries as Mexico, Papua New Guinea and Paraguay, in its Third Round Evaluation Report published on 21 November 2016, the Group of 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. GRECO in its latest evaluation report acknowledged that ‘there are a number of strong safeguards already in place, but, at the same time, some critical issues need urgent attention’.
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 This article was first published in December 2018 For further information please contact [email protected]
The contents of this publication are for reference purposes only and may not be current as at the date of accessing this publication. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action based on this publication.
© Herbert Smith Freehills 2022