25.08.2023

Russian counter-sanctions regulations: Softening the restrictions on dividend payments

On 23 August 2023, the Russian Ministry of Finance published an excerpt from the minutes of a meeting of the Sub-Commission of the Government Commission for Control over Foreign Investments (the ultimate decision maker in most matters concerning counter-sanctions), which softened the guidelines for granting approvals for the payment of dividends by Russian companies to their foreign shareholders associated with unfriendly states.

Read in detail in the alert at the link:

https://www.stonebridgelegal.ru/media/files/Alert_Control_over_Foreign_Investments__August_ENG.pdf

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The tightening of the exit conditions confirmed
Оn 30 October 2024, an excerpt from Minutes No.268/1 of the meeting of the Sub-Commission, dated 15 October 2024, was published on the website of the Russian Ministry of Finance, which lists the new rules that the Sub-Commission will follow when reviewing the transactions whereby non-Russian companies associated with unfriendly states sell their Russian securities, including shares/equity interests in Russian companies. The new rules are exactly the same as we advised in our previous alert of 11 October 2024.

31.10.2024