 # Legal Risks for Venture Investors in the Russian Federation — 2026 May 2026 brought several significant changes in Russian law that directly affect the investment climate. As a lawyer, I have highlighted key points that everyone planning to attract or invest capital in Russian startups should know. ## What has changed 1. Marketplaces and digital platforms — under state control The government approved rules for inclusion in the register of intermediary digital platforms. From October 1, 2026, marketplace owners must comply with new requirements from the Ministry of Economic Development. For e-commerce startups, this means additional bureaucracy when entering platforms. 2. Restrictions on imported equipment for mining From July 1, 2026, restrictions on the purchase of imported mining equipment come into effect. The trend toward import substitution is intensifying — this creates a window of opportunity for tech startups in the B2B sector but increases risks for funds investing in companies dependent on Western equipment. 3. Scenario conditions for the economy until 2029 The Ministry of Economic Development published baseline and conservative scenarios. Key parameters: inflation forecast, producer price indices. The conservative scenario assumes a deterioration in foreign economic conditions — this is a signal for venture funds to plan longer exit horizons. 4. Tightening control over foreign capital Amendments to the law "On Venture Investments" introduce mandatory verification of beneficiaries through state registers and limit the share of foreign participation in startups related to critical infrastructure. For Western LPs, this significantly complicates exits. ## What this means for startups and investors - The legal structure of a deal becomes a critical factor. Investors are increasingly choosing offshore jurisdictions with dual control. - State and quasi-state funds are the main source of capital in the market. Working with them requires separate compliance. - Sanction risks force a revision of deal structures. I recommend including legal due diligence in the investment attraction budget. ## Practical advice If you are a startup planning a round in 2026: check the beneficiary structure, assess the share of foreign participation, and prepare alternative exit scenarios. If you are an investor: pay attention to new requirements for counterparty verification through state registers. ASI Biont helps automate legal analysis and monitor changes in legislation. We track relevant changes in real time — so you don't miss a critical moment. → https://asibiont.com/