China News Agency, Moscow, August 5 (Reporter Tian Bing) Russian President Vladimir Putin signed a decree on the 5th on the implementation of special economic measures in the fields of finance, fuel and energy, prohibiting "unfriendly countries that hold shares in Russian strategic enterprises and companies" "Investors have until December 31, 2022 to trade shares, including the transaction of the interests, rights and obligations of the parties to the Sakhalin 1 Production Sharing Agreement and the Hariyakin Field Development and Production Sharing Agreement.
According to relevant documents released on the Kremlin website on the same day, in view of the unfriendly behavior of the United States and other foreign countries and international organizations in imposing restrictive measures against Russian citizens and legal entities and violating international law, in order to protect the interests of Russia and in accordance with relevant laws and decrees, The decree will impose restrictions on investors from the relevant countries until the end of this year.
Any transaction that changes the Russian strategic enterprise, the ownership structure of the company, its authorized capital and the established procedures for the implementation of investment projects falls within the scope of the ban.
The list of relevant strategic enterprises, companies and financial institutions shall be submitted by the Government of the Russian Federation to the President for approval within 10 days.
The document shows that Russia will prohibit investors from "unfriendly countries" from trading their shares in Russian strategic enterprises and companies; equipment production and maintenance companies in the field of fuel and energy, fuel and energy production suppliers, and processing companies. Trading with the stocks of bank credit institutions listed in the central bank’s list; large oil fields, natural gas fields, coal mines (with output of not less than 20 million tons, 20 billion cubic meters, and 35 million tons, respectively, are defined as “large”), uranium mines, rare Metal and platinum group metal development companies, as well as diamond, beryllium, gold, cobalt, lithium, copper, nickel, niobium, tantalum and ultra-high-purity mineral development companies stock trading; stock trading of oil and gas mineral developers on the Russian continental shelf; "Saha Lin 1” oil and gas project and the transaction of the Haryagin oil field project in northern Russia, etc.
The decree stipulates that investors from "unfriendly countries" can carry out the above-mentioned prohibited transactions only with the special permission of the President of the Russian Federation.
Transactions (operations) in violation of the provisions of this Act will be considered void.
The validity period specified in this Decree may be extended several times by the President of the Russian Federation.
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