7 Mar 2022 14:57

Russian govt approves rules for deals with foreign companies from unfriendly actions in conditions of sanctions

MOSCOW. March 7 (Interfax) - All deals and transactions of Russian companies with citizens and firms from countries unfriendly to Russia will now be approved by the Government Commission on Monitoring Foreign Investment.

"A resolution introducing such procedures has been signed by Russian Prime Minister Mikhail Mishustin," the Russian government press service said.

According to the document, a Russian resident company or a foreign firm from the list of unfriendly countries has to file applications for permission for a deal.

"It has to contain exhaustive information on the applicant, including a document on the company's beneficiary owners. A decision to approve or decline its realization will be made based on an analysis of the submitted documents and the nature of the future agreement," the press service said.

Permission for a deal, stating the conditions of its implementation, can be issued.

"The main purpose of this work is to ensure the financial stability of the country in the conditions of external sanctions pressure," the press service said.

Besides, Mishustin has issued a resolution expanding the composition of the Government Commission on Monitoring Foreign Investment. "It includes Central Bank and presidential administration officials," the report said.