Putin extends for a year the ban on foreign investors to sell shares of Russian companies

MADRID, 6 Dic. (EUROPA PRESS) -

Russian President Vladimir Putin has extended by one year a ban on foreign investors from selling shares in large Russian companies, a move that largely affects companies in Russia's banking and energy sectors.

The decree, signed in August and extended this Monday, extends the final date from December 31, 2022 to December 31, 2023, as reported by the Interfax agency.

Specifically, the measure expressly prohibits non-residents of "countries hostile to Russia" from withdrawing from a number of assets, except with special permission from the Russian president.

The ban applies to strategic companies such as energy companies, banks with foreign participation, service and production of equipment in the fuel and energy sector, as well as the real estate sector and the extraction of metals such as gold, nickel or diamonds.