Russian President Vladimir Putin signed a decree allowing large companies not to take into account the votes of shareholders from "unfriendly" countries when making decisions, TASS reports . The presidential decree applies to companies in the energy, engineering and trade sectors that meet a number of criteria:
▪️ Sanctions have been imposed against owners or beneficiaries by other countries or international organizations.
▪️The share of foreigners from "unfriendly" countries in the company does not exceed 50%.
▪️The company's revenue for the previous year should exceed 100 billion rubles.
According to the decree, if the management body includes citizens from "unfriendly" states, the remaining shareholders have the right to make a decision without taking into account their votes.
Earlier, the Russian Union of Industrialists and Entrepreneurs took the initiative not to take into account the votes of shareholders from "unfriendly" countries, which prepared the draft decree, Interfax reported . It was reported that "about 14" backbone joint ventures in Russia would fall under the decree. What exactly these companies are, the union did not specify in its appeal to the government.