The regulation applies to companies that operate in the energy, engineering and trade industries and have shareholders from “unfriendly” countries.
Russian the state has enacted a regulation that allows foreign shareholders to be ignored. According to the regulation, companies operating in certain industries must ignore the voices of foreign shareholders in general meetings and other decision-making.
According to the Reuters news agency, the Russian president Vladimir Putin signed the decree on Tuesday. The regulation entered into force at the time of publication, and it is valid until the end of the current year.
The regulation applies to companies that operate in the energy, mechanical engineering and trade industries and whose annual turnover is over one hundred billion Russian rubles (approximately 1.3 billion euros).
Regulation applies to foreign shareholders from countries classified as “unfriendly” by Russia.
According to the reasons for the regulation, the measure has been introduced in response to “unfriendly” economic sanctions imposed by the United States and other countries.
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