Russian companies are allowed to ignore foreign shareholders

2023.01.17 11:49

Russian companies are allowed to ignore foreign shareholders

By Tiffany Smith

Budrigannews.com – A decree signed by President Vladimir Putin says that some companies will be able to ignore the votes of shareholders from “unfriendly” countries when making business decisions.

Companies in the energy, mechanical engineering, and trade sectors that generate more than $1.46 billion in annual revenue will be subject to the decree. When it was published, the decree went into effect and will remain in effect until the end of 2023.

According to the decree, the temporary measures have been implemented in response to “unfriendly” sanctions imposed by the United States and other nations.

Russian companies are allowed to ignore foreign shareholders