Some firms not to count votes of owners from unfriendly states '23

MOSCOW, Jan 17 (PRIME) -- Several Russian companies may not take into account votes of the shareholders from the unfriendly states when making corporate decisions in 2023 to protect national interests, according to a presidential decree published on Tuesday.

The decisions will be based on the votes of the majority of the remaining members of the board of directors or shareholders.

The decree covers energy, machine-building and retail trade companies whose owner of a controlling stake and/or beneficiary owner is under sanctions, while the shareholders from the unfriendly states own no more than 50% of capital. The companies have a 2022 turnover of over 100 billion rubles.

(68.2892 rubles – U.S. $1)

End