(MENAFN- Trend News Agency)
Russian President Vladimir Putin extended a ban on making
transactions with stakes held by foreigners from unfriendly
countries in Russian strategic companies, banks and certain other
legal entities until the end of 2023, trend reports citing tass .
The relevant executive order posted on Monday amends the
presidential executive order of August 5 on application of special
measures in the finance and fuel and energy spheres in view of
unfriendly actions of certain foreign states and international
organizations. The restrictions were originally effective until
December 31 of this year and have now been renewed 'until December
31, 2023,' as stated in the document.
The ban applies to any deals changing the ownership structure in
Russian companies, their charter capital and the prevailing
procedure of investment projects' implementation. Restrictions
apply to transactions with shares of 'unfriendly' investors in the
charter capital of strategic companies, with shares of companies
that produce and service equipment for the fuel and energy complex,
heat and power suppliers and oil refiners, to deals with stocks of
Russian banks (in the list agreed by the Cabinet and the Central
Bank), and to deals with securities of companies developing major
fields. The ban on transactions with stakes of investors from
unfriendly states in the Sakhalin-1 oil and gas project and the
Kharyaga field has a separate provision.
The President can authorize any transactions covered by
restrictions by a special resolution.
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