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11.05.2023

New restrictions for transactions with Russian tradeable securities

In March, we informed you about the enactment of Presidential Decree No. 138 On Further Temporary Economic Measures Relating to Securities Trading, dated 3 March 2023 (the Decree) which introduced new restrictions for transactions with Russian tradeable securities between Russian residents and non-residents from unfriendly jurisdictions.

In its meeting on 24 April 2023, the Sub-Commission of the Government Commission for Control over Foreign Investments in Russia, resolved that it would be “expedient”, when considering approvals for transactions that require clearance under the Decree, to condition such approvals on the assumption of an undertaking to make a voluntary contribution to the Russian federal budget.

Read in detail in the alert at the link: https://stonebridgelegal.ru/media/files/Alert_Russian_counter-sanctions_regulations_May_ENG.pdf

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