Austrian OMV announced plans to protect its rights in Russia – Kommersant

The Austrian company OMV has studied the decree of Russian President Vladimir Putin, according to which its shares should be transferred to Russian organizations. IN message the company’s website states that OMV plans to “protect its rights.”

“According to this decree, OMV shares and its shares in the gas sector must be transferred to new Russian companies. Ultimately, these companies will belong to the insurance company OJSC SOGAZ and Gazprom. Proceeds from the transfer of OMV’s share in favor of OJSC SOGAZ will be transferred to a special account,” says a press release from the Austrian company.

In March 2022, OMV decided that Russia was no longer a key region for the company and adjusted the value of its business in the country by €2.46 billion. OMV, as stated in the message, no longer includes the results of its Russian divisions in its reporting.

OMV owned a 24.99% stake in the Yuzhno-Russkoye gas field. The company is now studying the decree of the Russian president and plans to “take steps to protect” its assets, the press release said.

On December 19, Vladimir Putin signed decrees on the creation of an LLC, to which all rights, assets and obligations of Gazprom’s joint ventures with Wintershall Dea and OMV will be transferred. Presidential Press Secretary Dmitry Peskov saidthat the document does not mean the withdrawal of assets of investors from unfriendly countries.

Petr Buzlaev