Michael Gnesin

Apr 8, 2024 | mondaq.com | Michael Gnesin

Fort Lauderdale, Fla. (April 2, 2024) - This month, the U.S. Court of Appeals for the Eleventh Circuit will hear a challenge to a recently-enacted Florida law, Senate Bill 264, which restricts foreign ownership or investment in Florida real property from specific countries and imposes a near ban on property purchases by Chinese, Russian and other foreign nationals. On July 1, 2023, Senate Bill 264 [codified under Fla. Stat. Ann. §§ 692.201 to 692.205] took effect.

Mar 20, 2024 | mondaq.com | Michael Gnesin |Haley Gorey |Jane Luxton |Andrew Pidgirsky

March 15, 2024 (Fort Lauderdale, Fla.) - On July 1, 2023, a new Florida law (Senate Bill 264) went into effect, restricting foreign investment in Florida real estate from specific countries, and enacting a near-ban on property purchases by Chinese, Russian and other foreign nationals.

Oct 9, 2023 | mondaq.com | Michael Gnesin |George Leahy

Washington, D.C. (October 6, 2023)- On September 27, 2023, the U.S. Department of Commerce's Bureau of Industry and Security (BIS)added28 new entities to its Entity List through amendments to the Export Administration Regulations (EAR). Among these listed entities is Russian corporation VSMPO-AVISMA, the world's largest titanium producer. The BIS Entity List limits—and imposes licensing requirements on—export, reexport, and in-country transfer transactions with listed entities.

Jul 10, 2023 | mondaq.com | Michael Gnesin

Washington, D.C. (July 5, 2023) – A group of Chinese citizens and a real estate brokerage firm are suing the State of Florida over the state's new law that restricts foreign investment in Florida real estate from specific countries, and enacts a near ban on purchases by Chinese, Russian, and other foreign nationals.

Jun 30, 2023 | mondaq.com | Michael Gnesin |Jane Luxton |Andrew Pidgirsky

Washington, D.C. (June 27, 2023) - On June 4, 2023, President Putin instructed the government of the Russian Federation to use proceeds from the "exit tax," which foreigners from "unfriendly" states pay when selling their Russia assets, for subsidies to the Industry Development Fund and for funding research and development projects to develop "priority industrial goods," including reverse engineering.