"Super-property right" to buy shares of strategic companies from foreigners

The current Decree of the President of the Russian Federation № 520 of August 5, 2022, "On the application of special economic measures in the financial, fuel and energy sphere in connection with the unfriendly actions of some foreign states and international companies" is amended in accordance with a new presidential decree. According to this new decree, the state will be given priority in the purchase of shares of foreigners in Russian companies who is leaving Russia. It is important to take into account that the priority right is applied to one of the companies from the List of strategic companies (The Decree of the President of the Russian Federation of August 4, 2004, № 1009 (issued from May 10, 2023) "On approval of the list of strategic companies and strategic joint stock companies"). The pre-emption right to the shares to be sold by foreigners is granted to the Federal Agency for State Property Management (“Rosimushchestvo”) at a significant discount for resale at the market price and for further transfer of funds to the federal budget.