Putin expands exceptions to ban on deals with assets of financial, energy companies
The decree's requirement does not apply to foreign-owned shares transferred to trust management.
Russian President Vladimir Putin signed an order extending the number of exceptions to the ban on transactions involving banking, fuel, and energy enterprises' assets. A decree enabling the sale of investment shares in investment funds under specific conditions has been posted on the legal information website.
According to the document, the exception applies to transactions involving assets of Russian enterprises subject to the ban, unless they account for more than 1% of their authorized capital. At the same time, the decree's requirement does not apply to foreign-owned shares transferred to trust management.
In August 2022, a presidential decree prohibited transactions between investors from unfriendly countries and Russian enterprises in the financial, oil, and energy sectors. The agreement bans changing the ownership structure of Russian companies, their authorized capital, or the process for conducting investment initiatives. Exceptions are provided for companies subject to other acts, but they can also be implemented for unique legal entities by special decrees.
Source
Russian President Vladimir Putin signed an order extending the number of exceptions to the ban on transactions involving banking, fuel, and energy enterprises' assets. A decree enabling the sale of investment shares in investment funds under specific conditions has been posted on the legal information website.
According to the document, the exception applies to transactions involving assets of Russian enterprises subject to the ban, unless they account for more than 1% of their authorized capital. At the same time, the decree's requirement does not apply to foreign-owned shares transferred to trust management.
In August 2022, a presidential decree prohibited transactions between investors from unfriendly countries and Russian enterprises in the financial, oil, and energy sectors. The agreement bans changing the ownership structure of Russian companies, their authorized capital, or the process for conducting investment initiatives. Exceptions are provided for companies subject to other acts, but they can also be implemented for unique legal entities by special decrees.
Source