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Marc Polonsky and Sergei Stepanov .PDF version /For Subscribers Only/
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Alexey Bukhtiyarov .PDF version /For Subscribers Only/ Yelena Novikova .PDF version /For Subscribers Only/
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GOTO CURRENT YEAR ISSUES
Yelena Novikova, EDITORIAL Dear Colleagues, The Russian State Duma has voted on the new Draft Law “On Subsoil” submitted by the Russian Government. The advantage of the new Draft is the replacement of the administrative model of subsoil use regulation for all types of usage of subsoil (inc. petroleum) with a contractual one, which provides the parties with equal opportunity and places them on equal legal footing. The main objective of the contrac- tual model implementation in sub- soil use is to stabilize the rules. In order to provide this stability, the legal mechanism should include: ! stabilizing provisions of a contract to protect a subsoil user from changes in legislation (“grand- father clause”); ! provisions for voiding, termina- ting or suspending a contract and inclusion of a complete list of terms and conditions for the men- tioned actions; ! provisions limiting subsoil user liability for the damage caused by past activity; ! protection of the parties’ rights in independent arbitration based on international law practices. However, this mechanism is omit- ted in the Draft, the latter contai- ning none of the considered ele- ments of the mechanism to pro- vide the needed stability in the rules.
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