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Putin restricted transactions of foreigners from unfriendly countries in the fuel and energy sector and finance

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Russian President Vladimir Putin signed a 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 make up 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 a special permission of the president. Let us recall that officially unfriendly countries appeared in Russia in May 2021 … .

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