Resolution No. 295,431-p of 6 March 2022
All transactions and operations between
Russian companies and individuals or companies from unfriendly countries will
be subject to approval by the Government Commission on Monitoring Foreign
Investment. Prime Minister Mikhail Mishustin has signed a resolution setting
forth this procedure.
Under the resolution, Russian resident
companies or foreign companies from unfriendly countries will have to apply for
permission to carry out a transaction between them. The corresponding
application must contain all the details on the applicant, including a document
on its beneficiary
owners.
The decision to approve or reject the
transaction will be taken based on the submitted documents and the nature of the
agreement. In addition, the permission to carry out the transaction may set
forth specific terms for it.
These efforts are primarily designed to
ensure the country’s financial stability against the backdrop of pressure from
foreign sanctions.
The Government adopted the resolution with
a view to implementing the Executive Order of the President of Russia Vladimir
Putin No.
81 of 1 March 2022 on additional provisional economic measures to ensure the
financial stability of the Russian Federation.
In a separate directive, Mikhail
Mishustin expanded the composition of the Government Commission on Monitoring
Foreign Investment to include representatives of the Central Bank and the
Presidential Executive Office.
