Home WORLD EUROPA Putin bans Western investors from withdrawing from certain projects | War...

Putin bans Western investors from withdrawing from certain projects | War in Ukraine

45
0

The new decree prohibits investors from countries that have imposed sanctions on Russia from selling the assets they own, among others, in banks, companies producing equipment for the energy sector or projects related to the production of oil, gas, coal and nickel.

Vladimir Putin could grant a special exemption in certain cases so that transactions can still be concluded, specifies the decree.

The Russian government and central bank are expected to prepare a list of banks to submit for Kremlin approval.

A second decree

The ban covers almost all major financial and energy projects in which foreign investors still hold stakes, including the Sakhalin-1 oil and gas project.

The Russian president signed a decree on Thursday that allows him to take full control of the Sakhalin-2 gas and oil project in the Russian Far East.

The new decree excludes the Sakhalin-2 project.

Previous articleRussia delivers new military equipment to Mali
Next articleDo you suffer from empty nest syndrome?