The government approved the conditions for paying compensation to foreign holdings

Russian Prime Minister Mikhail Mishustin signed a resolution defining the rules for payment and amounts of compensation to foreign holdings during the suspension of their rights in relation to economically significant organizations located in the country. Document published on the legal information portal.

The resolution came into force on November 10. To receive compensation, a foreign holding company must contact an economically significant organization in respect of which the exercise of corporate rights has been suspended. The decision on payment is made by this organization. The amount depends on the percentage of shares owned and their market value. Payment of compensation must be carried out taking into account the specifics of the Federal Law “On measures of influence (counteraction) against unfriendly actions of the United States and other foreign states.”

November 8, Russian President Vladimir Putin signed decree to launch the exchange of blocked assets of Russians. It applies to investors with a portfolio of up to 100,000 rubles. It is assumed that unfriendly foreigners, using money in special type C accounts (they are blocked), will be able to buy from Russian investors their foreign securities, which were accounted for in the NSD and were blocked abroad due to sanctions. Transactions will be organized through tenders, the conditions of which will be set by the government commission. The mechanism can help 80% of Russian retail investors. However, its implementation requires the consent of foreign regulators.