Question

Identify the political and legal environment for the country russia

please use academic sources or scholary business articles please and post links of these sources.

Answer 1

In recent months, the Russian Federation has been a hotbed of political activity, criticism and controversy, catching international media attention and the marked reluctance of foreign retailers looking to expand into the country. In late 2014, popular UK retailer, New Look, withdrew from Russia and Ukraine amid concerns about the political stability of the nations, and several others followed suit. Nevertheless, Russia's recent macroeconomic policies suggest potential improvement in this region and long-term measures have been placed in place to create a stable and sustainable climate for foreign and domestic enterprises.

Therefore, progress in this field is eagerly awaited for years to come; companies should expect to see a reduction in corporate government oversight as well as a reduction in administrative challenges associated with everyday operation. Additionally, proposals include the consolidation of State authorities 'regulatory forces. All in all, it is well-recognized among Russian authorities that the regulatory and supervisory procedures of the territory need reform, and are outdated in some areas. Additionally there are essential steps to be taken regarding commercial enterprise cultivation.

Over the last three years, Russia's economic backdrop has been challenging both for domestic and global industry. Slumping oil prices, sharp fall in the ruble, global instability and economic and financial sanctions have affected foreign perceptions of Russia's budget and financial system. The legal services sector has been at the forefront of all this as a crucial part of the linkages between global business and Russia. Companies that have remained in Russia and renovated their companies to withstand the downturn are beginning to see firming levels of sales and are also doing very well.

The changes to the Civil Code have essentially transplanted classical Anglo-Saxon legal principles into our law, and this was very deliberate — reflecting recognition that business was much more comfortable with these than previous Russian business-related legal concepts. They are now entering wider legal practice, so only the future will say how they will be formed by case law and how questions regarding those terms, such as warranties and other instruments, will be resolved. Their inclusion was intentionally intended to give greater trust under Russian law to customers in the handling of business acquisitions, sales and JV transactions, and is already being used with good results

Source- Russia's political economy re-conceptualized- Economic Times