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The RF sanctions foreign energy companies

11 May 2022

The RF enacted Decree No. 851 on May 11th, 2022 “On measures to implement Presidential Decree No. 252 from May 3rd, 2022”. The new Decree established the list of designated persons and added to the list of restricted transactions with designated persons.

The list of sanctioned persons now lists 31 foreign energy companies incorporated in Switzerland, Singapore, the UK, US, and EU. A considerable number of the sanctioned persons are members of Gazprom Germania group (its subsidiaries). In addition, the new Decree widened the set of restricted transactions with sanctioned persons, particularly, transactions regarding to payments and securities transaction for the benefit of or with sanctioned persons, and transactions regarding to entry of vessels chartered or owned by the sanctioned persons into RF ports. Moreover, as per the new Decree, the RF Ministry of Finance is the responsible authority for suggesting the granting of temporary licenses on transactions with such persons and new designations to the RF government. More information on this new Decree enacted by the RF on May 11th, 2022, can be found here (in Russian).