Putin allowed Gazprom structures to limit information disclosure

President Vladimir Putin signed a decree that allows Gazprombank, Gazprom Neft, Gazprom Energoholding and other Gazprom structures to determine the amount of information to be disclosed. The decree was published on portal legal information.

In 2022, to protect the interests of business from sanctions, Russia temporarily introduced relaxations in the disclosure of information. The new decree of July 1, 2023 allowed Russian issuers not to disclose sensitive information, but at the same time actually made it impossible not to disclose data at all. However, in November of the same year, Vladimir Putin allowed 46 Russian companies to independently determine the composition and volume of disclosed information. The list of such companies includes Rosneft and its subsidiaries, as well as Bashneft, Slavneft, and the All-Russian Regional Development Bank.

According to the order of the Central Bank, in 2024, Russian banks can disclose financial statements with exceptions in terms of data sensitive to sanctions risk. In February, the Central Bank classified additional information about the balance sheets of banks: now it is impossible to estimate the volume of investments in the capital of subsidiaries and dependent companies, the balances on some accounts that reflect claims on non-residents, including blocked ones.

Read more in the Kommersant article. “Banks are closing again”.

Anastasia Larina