Putin issues instructions to govt after RSPP congress

MOSCOW. April 21 (Interfax) - Russian President Vladimir Putin has instructed the government to regularly update a list of unfriendly countries, which reduced their business operations in Russia, and to establish the specifics of foreign investors exercising a right to buy back the shares they sold after February 22, 2022 on non-market conditions.

The list of instructions following the March 18, 2025 plenary session of the Russian Union of Industrialists and Entrepreneurs (RSPP) congress was published on the Kremlin's website on Saturday.

Thus, it instructs the government to ensure legal changes aimed at establishing:

a) an approval process for transactions which resulted in persons from unfriendly countries gaining ownership, possession or use of immovable property for the purpose of doing business in Russia, a right to dispose of, directly or indirectly, shares (equity stakes) in a company, and other rights helping determine the conditions for running a company and/or conditions for doing business, having taken into account:

the circumstances in which persons from unfriendly countries ceased (reduced) and/or continued their business operations in Russia after February 22, 2022;

the specifics of economic actors which are persons from unfriendly countries and planning to do business in Russia;

the need for persons from unfriendly countries to assume financial obligations and to provide other guarantees that they will operate in Russia in good faith and responsibly;

the precedence of the interests of domestic companies which started or continued doing business in Russia in relevant areas after February 22, 2022;

b) the specifics of foreign investors exercising a right to buy back shares (equity stakes) sold on non-market conditions after February 22, 2022, to ensure the rights and legitimate interests of Russian citizens and entities owning the shares (equity stakes) are protected.

Deadline for the instruction is May 15.

Further, the government is to approve and regularly update a list of unfriendly countries, which after February 22, 2022 ceased (reduced) their business operations in Russia, to include information concerning the conditions of ceasing (reducing) such activities, shareholders (members) of such entities and their beneficiary owners, and other information.

The relevant report must be submitted by May 15, 2025, and thereafter quarterly.

Prime Minister Mikhail Mishustin has been appointed responsible for the implementation.