Russian President Vladimir Putin signed decree “On the application of special economic measures in the financial and fuel and energy sectors.” The decree prohibits until December 31, 2022 transactions with shares and shares of Russian strategic companies for investors from unfriendly countries.
The document contains a direct ban on transactions with shares in Sakhalin-1 and the Kharyaginskoye field. The list of fuel and energy companies and banks, transactions with shares of which will be prohibited, the government must prepare within ten days.
The restrictions apply to transactions with securities that constitute the authorized capital of companies, as well as rights and obligations, shares, contracts on the basis of which investment projects are implemented in Russia.
The document states that transactions made in circumvention of the decree are considered null and void, that is, invalid. At the same time, operations that are banned can be carried out on the basis of special permission from the president.
Recall that officially unfriendly countries appeared in Russia in May 2021. Then the list included only the United States and the Czech Republic. After the start of the military operation in Ukraine, all G7 countries, all EU countries and Ukraine became unfriendly. On July 22, the list expanded to include Greece, Denmark, Slovenia, Croatia and Slovakia.