Vladimir Putin signed a decree on retaliatory measures in the fuel and energy sector and finance

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    Russian President Vladimir Putin signed a decree on special economic measures in the areas of the fuel and energy sector and finance due to unfriendly actions of organizations and countries. Relevant Document published on the official portal of legal information.

    According to the new rules, until the end of 2022, any transactions with shares owned by firms of unfriendly states, including subsidiaries of strategic enterprises, are prohibited.

    The restriction applies to all joint-stock companies and strategic enterprises, including subsidiaries such as Kharyaga and Sakhalin-1.

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    The decree concerns transactions with users of all large deposits of coal, gas and oil, offshore and offshore subsoil areas, platinum group metals, lithium, gold, diamonds, copper, beryllium, niobium, tantalum, cobalt, nickel, rare earths of the yttrium group, high-purity quartz raw materials and uranium.

    The Central Bank and the Cabinet of Ministers were instructed to provide the president with a list of organizations in the fuel and energy complex that are engaged in its repair and maintenance, as well as banks, transactions with foreign shares in which will also be prohibited within the next 10 days.

    The decree came into force from the date of its signing, the period of validity may be extended.

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