Leaders in our field of practice

Led by Partner Nikolai Kurmashev, the team has extensive experience in international and Russian transactions in project financing, syndicated lending, acquisition financing and debt restructuring.

Leading Russian and international banks and financial institutions trust us to find a solution for the most complex issues faced by them.

For many years, our experts have traditionally ranked first in national and foreign legal ratings.

The project team includes lawyers qualified under Russian law, as well as those qualified under the law of England and Wales, which allows us to advise not only on Russian, but also on English law.


Our work is based on the best world practices and expertise accumulated by our lawyers in the course of many years of work in international law firms.

Unique expertise

In the changed geopolitical conditions, Orion Partners performs large-scale tasks, with the main one being the implementation of Russian legal structures replacing existing English legal instruments (for example, sponsorship support instruments in project financing transactions), which allows clients to ensure further financing and implementation of projects.

Our lawyers have extensive experience in advising clients on project financing (including within the framework of the Project Financing Factory). We are well aware of the high standards of services required for such projects.

Work experience

Gazprombank, VEB.RF and Sberbank in relation to syndicated project financing for the development of the Udokanskoye deposit (the largest copper project in Russia) as part of the Project Financing Factory;

a syndicate of Russian banks, including VEB.RF, as part of project financing for the construction of a plant for the production of railway wheels in one of the special economic zones of the Russian Federation;

Gazprombank and Sberbank in relation to the provision of a syndicated loan under Russian law for ARKTICGAZ JSC, a joint venture between Gazprom Neft PJSC and NOVATEK PJSC;

Sberbank and the EBRD as part of project financing for the construction of a PVC plant of RusVinyl (a joint venture between Sibur and Solvay) in the amount of EUR 750 million;

Credit Bank of Moscow and lenders in relation to a syndicated financing arranged for a subsidiary of Trafigura, an international trading company, to acquire from Rosneft a stake in Vostok Oil, a flagship oil project in the Arctic region;

VEB.RF, Sberbank, Gazprombank, VTB and Otkritie FC in relation to financing the construction of an ammonia and urea plant in Kingisepp by the EuroChem group in the amount exceeding US$1.5 billion (the largest project within the framework of the Project Financing Factory in 2020);

a syndicate of a Russian development bank and a leading Russian state bank in relation to financing an operator of the complex for processing and liquefying natural gas in the Ust-Luga region;

lenders (including Sberbank) in relation to a US$750 million project financing to construct Eurochem’s Usolsky potash plant;

Sberbank in relation to the restructuring of debts of Agrokor Group in the amount of EUR 6 billion; and

Russian and international creditors in relation to restructuring of debts of major Russian, Ukrainian and Kazakh companies (Mechel, DTEK, Svyaznoy, Eurasian Resources Group).

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