Putin Bans Share Trading in 191 Russian Companies

Putin Bans Share Trading in 191 Russian Companies

Russian President Vladimir Putin restricted foreign investors’ ability to buy and sell shares of companies on Wednesday, including Unipro and the local affiliate of the Finnish energy company Fortum.

The decree signed by Putin covers a total of 191 companies that operate in Russia and have shares owned by investors from western countries imposing sanctions on Russia.

The share transactions in these Russian firms will be subject to special permits. Among these companies are Unipro, Fortum, Baker Hughes and Schneider Electric. READ: UK Financial Regulator Bans Binance Crypto Platform

On Aug. 5, Russia prohibited investors from these “unfriendly countries” from trading in strategic company shares. On Oct. 26, Putin issued another decree which made it illegal to transact in the shares or equity capital of 45 banks and financial organizations that were located in these countries sanctioning Russia.

The ban on share trading comes in reaction to global sanctions placed on Moscow by bellwether economies including European Union, and the United States following Russia’s war with Ukraine.

# Putin Bans Share Trading in 191 Russian Companies

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