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The President signed the Executive Order to provide an urgent response to the United States and other countries and international organisations whose actions, unfriendly and contrary to international law, illegally deny the Russian Federation, Russian legal entities and individuals property rights and/or restrict their ownership titles. The Executive Order seeks to protect the national interests of the Russian Federation. It was signed as per federal laws No. 281-FZ of December 30, 2006, On Special Economic and Coercive Measures, No. 390-FZ of December 28, 2010, On Security, and No. 127-FZ of June 4, 2018, On Measures (Countermeasures) against Unfriendly Actions of the United States of America and Other Foreign Countries.

Under the Executive Order, if the Russian Federation and/or Russian legal entities or individuals are stripped of their ownership rights regarding properties in the foreign states that are targeting the Russian Federation or its legal entities or individuals, with unfriendly actions, and/or if the Russian Federation and/or Russian legal entities or individuals are stripped of their property titles, as well as when these rights are subject to any restrictions or there is a threat of being deprived of these rights, facing restrictions, and threats to Russia’s national, economic, energy and other kinds of security, its defence capability, an interim administration shall be instituted regarding the following assets:

a) movable goods and properties located in Russia and belonging to foreign parties with ties to unfriendly countries (including if these foreign parties are citizens or residents of these countries or if they have their registered addresses in these countries, or principal place of business or if they derive most of their profits from operating in these countries), and also those belonging to the parties controlled by the said foreign parties;

b) foreign-held securities, shares in authorised (joint) capital of Russian legal entities held by parties from unfriendly foreign countries;

c) property rights held by parties from unfriendly foreign countries.

The Executive Order sets forth a list of movable goods and properties, securities and shares in authorised (joint) capitals of Russian legal entities, as well as property rights subject to interim administration measures.

The document designates the Federal Agency for State Property Management as the interim administrator and also sets forth its authority.

Under the Executive Order, the President of the Russian Federation decides when to terminate the interim administration.