OREANDA-NEWS  By his decree, President Vladimir Putin extended until the end of 2024 the right of a number of Russian organizations not to take into account the votes of co-owners from "unfriendly" jurisdictions when making corporate decisions.

Decree No. 958 "On Amendments to Certain Decrees of the President of the Russian Federation" is published on the official Internet portal of legal information.

Companies from the mentioned industries received such a right in January 2023, if they simultaneously meet three more conditions: sanctions have been imposed on their Russian co-owner; the share of "unfriendly" co-owners is no more than 50%; the revenue of a group of individuals of a Russian organization for the previous year exceeds 100 billion rubles.

According to these temporary rules, the votes of "unfriendly" co-owners and persons nominated by them to the management bodies will not be taken into account when determining the quorum and voting results if such a decision is made by other co-owners of the company.