Putin allowed Sberbank to deal with shares of a number of oil and gas companies
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President Vladimir Putin allowed Sberbank (MOEX: SBER) carry out transactions with shares of the companies Sibintek, Sladkovsko-Zarechnoye, Untygeineft, Yurekneft, Oil and Gas Field Technologies. The corresponding decree published on the portal of legal acts.
“To allow the public joint stock company “Sberbank of Russia” to carry out transactions (operations) entailing directly and (or) indirectly the encumbrance of the rights of ownership, use and (or) disposal of shares constituting the authorized capitals of the limited liability companies “Oil and Gas Field Technologies”, Enterprise of Intensive technologies of Sibintek, Sladkovsko-Zarechnoye, Untygeineft and Yurekneft,” the document says.
The permission was given as part of a presidential decree dated August 5, 2022, by which he prohibited a number of transactions relating to the participation of foreigners from unfriendly countries in Russian companies. The restrictions apply to transactions with securities of Russian companies owned by them, including the fuel and energy complex, and production sharing agreements. In November of the same year, Mr. Putin approved a list of 191 companies in which transactions with foreign shares are permitted only with special permission. In December 2023, the President extended restrictions on transactions with “unfriendly” companies.
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