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Putin bans transactions with foreigners’ stakes in strategic companies by year-end

The ban also applies to transactions with shares of strategic Russian companies and Russian banks, and to participation interests, rights and obligations in the Sakhalin-1 oil and gas project

MOSCOW, August 5. /TASS/. Russian President Vladimir Putin signed a decree on application of special measures in finance and fuel and energy spheres in view of unfriendly actions of certain foreign states and international organizations. The document was posted on the official web portal of legal information on Friday.

The decree bans in particular certain transactions related to participation of foreigners from unfriendly states in Russian companies by December 31, 2022. The restriction covers transactions with securities constituting authorized capitals of such entities, rights and responsibilities, participation interests and agreements being the basis for implementation of investment projects in Russia.

The ban also applies to transactions with shares of strategic Russian companies and Russian banks, and to participation interests, rights and obligations in the Sakhalin-1 oil and gas project.