Putin introduced a special procedure for transactions with shares of LLC for persons from unfriendly countries

Russian President Vladimir Putin signed decree on a special procedure for the implementation of certain types of activities between certain persons. The decree introduces a special procedure for transactions with shares in Russian limited liability companies for persons from unfriendly countries. The decree also allows sanctioned Russian banks to fulfill their obligations in rubles on foreign currency deposits of Russian companies.

As follows from the text of the decree, transactions with LLC shares with the participation of residents of unfriendly countries will be possible only in agreement with the government commission for foreign investment control.

LLCs with direct or indirect participation of strategic subsoil user companies may now not provide information about their activities to company members “who are persons of foreign states committing unfriendly actions,” follows from the document.

The news is being added.

Andrey Sapozhnikov