OREANDA-NEWS Russian President Vladimir Putin has signed an order authorizing transactions with foreign-controlled shares of Renaissance Insurance Group and Ozon (MOEX: OZON). No other permissions are required to perform operations.

"To allow transactions (operations) entailing, directly and (or) indirectly, the establishment, modification, termination or encumbrance of the rights of ownership, use and (or) disposal of shares of public joint stock company Renaissance Insurance Group and Ozon Holdings Pielsi (Ozon Holdings Plc)," the document says.

The president's permission is apparently related to the implementation of previously announced plans to divide the business of the Baring Vostok funds into Russian and international. Vostok Investments informed Kommersant that they confirm that Vostok Investments Holding has received regulatory permits to buy back assets of Baring Vostok funds in Russia and are starting work on the technical closure of the transaction.

In the summer of 2022, Vladimir Putin banned transactions with shares and shares of Russian strategic companies for investors from unfriendly countries. The decision was introduced by the decree "On the application of special economic measures in the financial and fuel and energy sectors." The document stipulates that transactions can be made on the basis of a special decision of the president.

In the summer of 2023, the Ozon marketplace announced plans to change jurisdiction from Cyprus to Russia. The decision was explained by the desire of the holding structure to be "as close as possible" to operating legal entities in the Russian Federation.