Russian presidential decree prohibiting transactions by unfriendly non-residents without special permission extended for two years

MOSCOW. Dec 9 (Interfax) - The validity of presidential decree no. 520, which introduced a ban in 2022 on carrying out transactions involving non-residents from unfriendly jurisdictions without obtaining special permission, has been extended for two years until December 31, 2027.

The corresponding decree was signed by President Vladimir Putin on December 8. The document was published on Monday on the portal of legal information.

Decree no. 520 was approved on August 5, 2022, and initially was in force until the end of that year, and was then repeatedly extended, most recently at the end of 2023 until the end of 2025.

The decree, on the application of special economic measures in the financial and fuel and energy sectors in connection with unfriendly actions by certain foreign states and international organizations, directly prohibits non-residents from countries unfriendly to Russia from exiting a number of assets except with special permission from the head of state.

The decree applies to strategic enterprises, energy companies, banks with foreign participation, service and equipment production in the fuel and energy sector, and subsoil users.