Putin forbade shareholders from "unfriendly" countries to sell stakes in strategic companies and banks - without his permission

Putin forbade shareholders from “unfriendly” countries to sell stakes in strategic companies and banks – without his permission

THIS MESSAGE (MATERIAL) IS CREATED AND (OR) DISTRIBUTED BY A FOREIGN MASS MEDIA PERFORMING THE FUNCTIONS OF A FOREIGN AGENT AND (OR) A RUSSIAN LEGAL ENTITY PERFORMING THE FUNCTIONS OF A FOREIGN AGENT.

Save Medusa!
https://support.meduza.io

Russian President Vladimir Putin decree prohibited shareholders from “unfriendly” countries conduct transactions with shares of Russian banks. Putin instructed the government and the Central Bank of the Russian Federation within 10 days to prepare a list of Russian banks that will be subject to the ban.

By the same decree, Putin banned shareholders from “unfriendly” countries from buying and selling shares in strategic enterprises and companies. The ban also included stakes in the Sakhalin-1 oil and gas project and the Kharyaginskoye field development project.

The ban also applies to shares in companies producing equipment for the fuel and energy complex, as well as shares in producers and suppliers of heat and electricity, oil refining and oil product companies.

It follows from the decree that the President of the Russian Federation has the right by a special decision to allow the sale of shares and stakes in these companies. The document also says that the ban is valid until December 31, 2022, but can be extended.

Two days before the publication of the decree, on August 3, the American oil and gas corporation ExxonMobil reportedthat is working to “transfer the operations of the Sakhalin-1 project to another party.” Earlier, the company decided to stop work on this project.

July 15 Deputy Minister of Finance of the Russian Federation Alexei Moiseev declaredthat the government of the Russian Federation will temporarily stop issuing permits for the sale of subsidiaries of foreign banks in Russia until Russian banks abroad can work normally.

Read also

Source: meduza.io

Disclaimer: If you need to update/edit/remove this news or article then please contact our support team Learn more

Leave a Comment

Your email address will not be published.