On March 28, 2016 the ninth arbitration appeal court cancelled the former decision of the Moscow Arbitrazh court regarding rent rate review of the lease contract between Vimpelkom and Tizpribor. According to the court, employing a floating exchange rate regime and the subsequent devaluation of the ruble in fact cannot be assessed as a fundamental change of circumstances sufficient for amendment or cancellation of the contract in a judicial proceeding.

Vimpelkom filed a suit against the lessor referring to article 451 of the Civil code which deems fundamental change of circumstances as amendatory matter for amendment or cancellation of the contract concluded between economic entities. On December 29, 2015 the Moscow Arbitrazh court upheld partially the claim of Vimpelcom and fixed the foreign currency exchange rate between 30 and 42 RUR to USD, i.e. actually rectifying the contract amending the rent calculation formula. Such decision could have been a landmark decision for cases on lease agreements where the rent is established in a foreign currency.

However, the decision of the ninth arbitration appeal court declares that "according to part 1 of the article 2 of the Civil code of the Russian Federation, business activity is carried out at its own risk and responsibility. Therefore, the party interested in amending the controversial contract, in this case — PJSC Vimpel-Kommunikatsii has to bear the risk of change of circumstances.”

The full version of the decision is not available yet.