MOSCOW, May 21. /TASS/. Russian President Vladimir Putin has authorized transactions involving the shares of Metalloinvest Holding Company. The relevant executive order has been published on the official portal of legal acts.

"In accordance with paragraph 5 of Decree No. 520 of the President of the Russian Federation dated August 5, 2022, 'On the Application of Special Economic Measures in the Financial and Fuel and Energy Spheres in Connection with the Unfriendly Actions of Certain Foreign States and International Organizations,' transactions (operations) directly and/or indirectly entailing the establishment, modification, termination, or encumbrance of the rights of ownership, use, and/or disposal of shares of Metalloinvest Holding Company Joint-Stock Company are hereby authorized," the document states.

The Russian President's order also notes that no other permits or approvals provided for by law are required to execute these transactions.

About the company

Metalloinvest is the global leader in the production of merchant hot briquetted iron, the world's second-largest pellet producer, and the largest iron ore company in Russia and the CIS.

Its proved iron ore reserves under the JORC code amount to 15.4 billion tonnes.