Russian State Duma passes law setting 10-year statute of limitations on privatization cases

© Госдума РФ

Russian lawmakers have passed a bill in the second and final third reading that sets a 10-year statute of limitations for cases related to privatization. After this period expires, it will no longer be possible to reclaim property that was privatized illegally.

"This decision sends a signal of property guarantees to those who have developed and invested in enterprises over many years, even in cases where not all procedures were carried out in accordance with the law during the privatization of property more than 10 years ago," reads the explanatory note.

However, the 10-year limitation will not apply to "anti-corruption" and "anti-extremism" lawsuits, as well as cases involving the transfer of religious property to religious organizations from state or municipal ownership.