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Executive Order on additional temporary economic measures related to circulation of securities

March 3, 2023

The President signed Executive Order On Additional Temporary Economic Measures Related to Circulation of Securities.

The Executive Order was signed in connection with unfriendly actions of the United States of America and associated foreign states and international organisations that contradict international law and aim to impose restrictive measures against citizens of the Russian Federation and Russian legal entities, in order to protect national interests of the Russian Federation and ensure its financial stability, and in accordance with federal laws No. 281-FZ On Special Economic and Coercive Measures of December 30, 2006, No. 390-FZ On Security of December 28, 2010, and No. 127-FZ On Measures (Countermeasures) against the Unfriendly Actions by the United States of America and other Foreign Countries of June 4, 2018.

The Executive Order establishes special rules for operations with securities acquired from non-residents from unfriendly countries. It provides for temporary regulation in terms of transactions (operations) involving shares of a Russian JSC, federal loan bonds, bonds of a Russian issuer, centralised accounting of rights to which (mandatory centralised safekeeping of which) is entrusted to a Russian depositary. The Executive Order also sets out certain procedures for transactions with documents if they result in a transfer of title to assets, their transfer into trust management or pledge.

March 3, 2023