Peskov: the government is taking the necessary measures to protect the economy

The government is taking the necessary measures to protect the Russian economy. This was stated by the press secretary of the President Dmitry Peskov.

“Well, this is a very big question. This is more of a matter for discussion than we should hardly be concerned with. But against the backdrop of those absolutely unprecedented aggressive actions against us in other countries, the government is really taking to protect our economy, to protect our companies in the first place. This is how decisions like this should be treated,” he explained.

Peskov made this explanation when answering the question of whether foreign companies need a “carrot” to convince them to stay in Russia.

On July 14, Vedomosti wrote that the authorities had decided to make it more difficult for foreigners to leave Russian business and had formed a new list of requirements that the parties must fulfill in order to conclude a deal. There are only 10 items on the list, they are given in the decision of the subcommittee of the government commission for the control of foreign investment. A significant part of the restrictions on exit is already in effect, but there are several fundamentally new conditions that have not yet been formally applied.

First, the buyer of assets must not enter into a buyback option with the seller for more than two years. Secondly, this is the obligation of the buyer to place on organized auctions up to 20% of the shares of PJSC, which he acquires. The rest of the requirements were already in effect in one way or another when the deals were approved by the authorities. The representative of the Ministry of Finance confirmed that the subcommittee approved the approaches that will be taken into account when making decisions on the approval of the sale of Russian business by foreigners.