AlwaysFree: Russian Cabinet Authorizes Transactions With Germany’s Schaefflergruppe

• The decree comes into force from the day of its promulgation and will be effective until December 31, 2023

According to TASS, Russia's state-owned news agency article published on January 4, 2023, The Russian Cabinet issued a temporary authorization to make transactions with the German auto parts producer Schaefflergruppe and its Russian subsidiaries.

The relevant Cabinet decree was posted on the official web portal of legal information. "To authorize performance of actions, in respect of which <…> the ban was established, with Schaefflergruppe (Germany) and Schaeffler Rus and Schaeffler Russland controlled by Schaefflergruppe, with the exception of actions in the military-technical cooperation sphere," the document reads.

The decree comes into force from the day of its promulgation and will be effective until December 31, 2023.

The Germany-based Schaeffler is the producer of auto parts and the controlling shareholder of the tires producer Continental AG.

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