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The Executive Order was signed in response to unfriendly actions taken by the United States of America and the foreign states and international organisations that sided with it, seeking to impose restrictive measures on Russian citizens and legal entities in violation of international law, in order to uphold the national interests of the Russian Federation and in accordance with Federal Law On Special Economic Measures and Measures of Coercion of December 30, 2006, Federal Law On Security of December 28, 2010, and Federal Law On Measures (Countermeasures) Against Unfriendly Actions by the United States of America or Other Foreign Countries of June 4, 2018.

The President resolved to introduce a temporary procedure for making decisions by a general meetings of participants (shareholders), a board of directors (a supervisory board), or a collective executive body of a Russian economic entity on issues within their competence.

The temporary procedure established by this Executive Order shall apply to Russian economic entities that simultaneously meet a number of criteria:

if an economic entity carries out activities in the field of energy (including the electric power industry), engineering or trade;

if the controlling person or a beneficiary owner of a Russian economic entity has been subjected to restrictive measures by a foreign state, an association of states, or an interstate institution taking unfriendly actions against the Russian Federation, or Russian legal entities or individuals;

if foreign nationals affiliated with foreign states taking unfriendly actions against the Russian Federation, or Russian legal entities or individuals, own shares in the authorised capital (shares) of a Russian economic entity not exceeding 50 percent of its authorised capital;

if the revenue of a Russian economic entity for the year preceding the year of the decision exceeds 100 billion rubles.

If a body of a Russian economic entity includes persons from unfriendly foreign states, the participants (shareholders) of the Russian economic entity who are not nationals of unfriendly foreign states shall be entitled to rule that the votes of said persons shall not be counted when establishing a quorum or in voting. In such case, a decision shall be made notwithstanding the provisions of the founding documents of a Russian economic entity or its corporate agreement.

The temporary procedure established by the Executive Order shall remain in effect until December 31, 2023, inclusive.