Putin bans foreign investors from transactions in strategic Russian enterprises

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Putin bans foreign investors from transactions in strategic Russian enterprises

This general view taken on July 8, 2018 shows the Kremlin and Moscow State University back in Moscow, Russia. MLADEN ANTONOV AFP MOSCOW Russian President Vladimir Putin has imposed a decree banning foreign investors from making transactions with their shares in strategic Russian enterprises and projects until the end of the year.

Foreigners associated with unfriendly countries are not allowed to carry out any transactions with their shares and assets in strategic Russian enterprises and banks until December 31, 2022, according to the decree, which was published on the country's official portal for legal information.

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Foreign investors are banned from carrying out transactions with shares in the Sakhalin 1 oil and gas project, and the Kharyaginskoye oil field project, according to the decree.

The Russian president ordered the central bank and government to compile a list of all banks that would fall under the decree in a matter of 10 days.

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Certain transactions will only be allowed if this is permitted by the Russian president, and the decree can be extended after its expiration date.

The measures will be taken to protect Russia's national interests and respond to the hostile actions of the United States and other foreign countries and organizations, according to the decree.