Putin introduced restrictions against investors from unfriendly countries
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Russian President Vladimir Putin signed a decree on the application of special measures in the financial and fuel and energy sectors in connection with the unfriendly actions of other countries. The decree introduces a ban until the end of the year for investors from unfriendly countries that own shares and stakes in Russian strategic enterprises and joint-stock companies to make transactions with them.
“Establish that until December 31, 2022 it is prohibited to make transactions that directly or indirectly entail the establishment, change, termination or encumbrance of the rights of possession, use and disposal of securities of Russian legal entities, shares constituting the authorized capital of Russian legal entities, on the basis of which investment projects are being implemented on the territory of the Russian Federation, provided that these securities, shares, rights and obligations belong to foreign persons, ”the document says.
The document notes that the restrictions introduced affect transactions with shares that make up the authorized capital of joint-stock companies included in the list of strategic enterprises and joint-stock companies. Restrictions also affect transactions with shares, shares that constitute the authorized capital of business companies in which joint-stock companies directly or indirectly own shares and shares.
The restrictions also affect transactions with securities of Russian banks, companies producing equipment for fuel and energy companies, electricity producers and suppliers, oil refineries, etc. The government and the Central Bank were instructed to prepare a complete list of organizations within ten days.
The document emphasizes that all transactions made in circumvention of this decree will be declared invalid. Operations that fall under restrictions may be carried out on the basis of a special decision of the President.
The text of the decree notes that the restrictions are introduced in connection with the unfriendly actions of the United States and other states that violate international law, and are aimed at protecting the interests of the Russian Federation.
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