Amendments are planned to the Civil Code of the Russian Federation that will establish the application of general statutes of limitations to claims for the reclamation of property acquired for private ownership through violations during the privatization process.

The amendments will apply to three- and ten-year statutes of limitations, which will also apply to disputes over the application of other consequences of non-compliance with privatization requirements.

The bill has already been adopted in its final reading and will enter into force on the day of its official publication.

Particular attention is being paid to the fact that the amendments will also affect claims for which the deadlines for filing arose prior to the law's entry into force, if a court decision on them has not yet been issued.

The Ministry of Economic Development previously noted that currently, the statute of limitations is often not applied to the seizure of property privatized 15-30 years ago, creating uncertainty for investors.

However, general statutes of limitations will still not apply to anti-corruption and anti-extremism claims.

Conclusion:

The amendments will allow for a more accurate assessment of the risks and prospects of litigation related to challenging rights to privatized property.