(Provides element, context in paragraphs 3-5)
Aug 4 (Reuters) – Russian President Vladimir Putin has signed a legislation permitting for overseas buyers from “unfriendly” international locations to be barred from holding stakes in main Russian firms and banks, state information company RIA stated on Friday.
It stated the federal government would draw up a listing of Russian companies to be coated by the legislation, together with all systemically essential banks and companies above a sure dimension when it comes to income, staff, property or taxes paid.
Underneath the legislation, the rights of overseas buyers from unfriendly international locations – which means people who have imposed sanctions on Russia over its struggle in Ukraine – may very well be suspended, and their shares distributed proportionally amongst Russian house owners.
Russia has moved more and more in latest months to take management of the property of Western firms in retaliation for the seizure of Russian-owned property overseas.
Final month it took management of Danish beer firm Carlsberg’s stake in a Russian brewer, in addition to a Russian subsidiary of French yoghurt maker Danone. In April it took related steps in opposition to Finnish utility Fortum and Germany’s Uniper. (Writing by Mark Trevelyan; Enhancing by Hugh Lawson)
