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PRESIDENTIAL DECREE OF THE RUSSIAN FEDERATION

of August 5, 2022 No. 520

About application of special economic measures in financial and fuel and energy spheres in connection with unfriendly actions of some foreign states and the international organizations

Due to the unfriendly and contradicting international law actions of the United States of America and the foreign states and the international organizations which adjoined them directed to introduction of rationing arrangements concerning citizens of the Russian Federation and the Russian legal entities for the purpose of protection of national interests of the Russian Federation and according to the Federal Laws of December 30, 2006 No. 281-FZ "About special economic measures and enforcement powers", of December 28, 2010 No. 390-FZ "About safety" and of June 4, 2018 No. 127-FZ "About corrective actions (counteraction) on unfriendly actions of the United States of America and other foreign states" I decide:

1. Determine that till December 31, 2022 transactions (transactions) involving directly and (or) indirectly establishment, change, the termination or encumbrance of rights of possession, uses and (or) orders of securities of the Russian legal entities, shares (deposits) constituting the authorized (share) capital of the Russian legal entities, the shares, the rights and obligations belonging to agreement parties about the Section of products, cooperation agreements or other agreements based on which investment projects in the territory of the Russian Federation are implemented are forbidden provided that these securities, shares (deposits), the rights and obligations belong to the foreign persons connected with foreign states which make concerning the Russian Federation of the Russian legal entities and physical persons unfriendly actions (including if such foreign persons have nationality of these states, the place of their registration, the place of preferential conducting economic activity by them or the place of preferential extraction of profit on activities by them are these states), and to persons who are under control of the specified foreign persons.

2. The prohibition, the stipulated in Item 1 this Decree, extends to transactions (transactions):

a) with the shares constituting the authorized capital of the joint-stock companies included in the list of the strategic companies and strategic joint-stock companies approved by the Presidential decree of the Russian Federation of August 4, 2004 No. 1009 "About approval of the list of the strategic companies and strategic joint-stock companies";

b) with shares, shares (deposits) which constitute the authorized capital of economic societies in which the joint-stock companies specified in the subitem "an" of this Item directly or indirectly hold shares, shares (deposits);

c) with the shares, the rights and obligations belonging to agreement parties about the Section of products on the Sakhalin-I project (oil-gas condensate fields of Chayvo, to Odopt and Arkutun-Daginskoye on the shelf of the island of Sakhalin) and Agreements on development and oil extraction on the Haryaginsky field on the terms of the Section of products;

d) with shares, shares (deposits) constituting the authorized capital of the economic societies which are producers of the equipment for the organizations of fuel and energy complex and rendering services in field service and repair of such equipment, economic societies, being producers and suppliers of heat and (or) electrical energy, the economic societies performing oil refining, oil raw materials and production of products of their conversion. The list of the specified economic societies affirms the President of the Russian Federation on representation of the Government of the Russian Federation;

e) with shares, shares (deposits) constituting the authorized capital of the Russian credit institutions which list affirms the President of the Russian Federation on the representation of the Government of the Russian Federation approved with the Central bank of the Russian Federation;

e) with shares, shares (deposits) constituting the authorized capital of economic societies - users:

the subsoil plots located in the territory of the Russian Federation and containing fields of hydrocarbonic raw materials (with recoverable reserves at least 20 million tons of oil, at least 20 billion cubic meters of natural gas or at least 35 million tons of coal), uranium, especially net quartz raw materials, rare lands of yttric group, nickel, cobalt, tantalum, niobium, beryllium, copper;

the subsoil plots located in the territory of the Russian Federation and which are radical diamond fields, radical (ore) gold deposits, lity, metals of platinum group;

subsoil plots of internal sea waters, territorial sea, continental shelf of the Russian Federation.

3. The prohibition established by this Decree does not extend to the legal relationship settled by the Presidential decree of the Russian Federation of June 30, 2022 No. 416 "About application of special economic measures in the fuel and energy sphere in connection with unfriendly actions of some foreign states and the international organizations" and the Federal Law of July 14, 2022 No. 320-FZ "About introduction of amendments to the Federal law "About Privatization of the State-owned and Municipal Property", separate legal acts of the Russian Federation and about establishment of features of regulation of the property relations" including to transactions (transactions) made according to the called Decree and transactions (transaction) made when transforming branch (representation) of the foreign legal entity to economic society in the form of limited liability company according to the specified Federal Law.

4. Transactions (transaction) made in defiance of provisions of this Decree are insignificant. In case of making in defiance of provisions of this Decree of transactions (transactions) called in Item 1 of this Decree, securities of the Russian legal entities, shares (deposits) constituting the authorized (share) capital of the Russian legal entities, shares belonging to agreement parties about the Section of products do not grant to their owners the rights, stipulated by the legislation the Russian Federation, production sharing agreements, cooperation agreements and other agreements.

5. Transactions (transaction) on which making according to this Decree the prohibition is established can be made based on the special decision of the President of the Russian Federation.

6. Effective period of the restrictions set by this Decree can be repeatedly extended by the President of the Russian Federation.

7. To the government of the Russian Federation in 10-day time to submit for approval of the President of the Russian Federation:

a) the list of economic societies according to the subitem "g" of Item 2 of this Decree;

b) the list of the Russian credit institutions according to the subitem "d" of Item 2 of this Decree (in coordination with the Central bank of the Russian Federation).

8. This Decree becomes effective from the date of its official publication.

President of the Russian Federation

V. Putin

 

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

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