Putin signs decree to remove Russian stocks from overseas exchanges in huge blow to the nation’s billionaires

Putin signs decree to remove Russian stocks from overseas exchanges in huge blow to the nation’s billionaires

Vagit Alekperov, president of Russian oil company Lukoil.

Vagit Alekperov, president of Russian oil company Lukoil.Sefa Karacan/Anadolu Agency/Getty Images

  • Putin signed a new decree on April 16 that requires Russian companies to remove their listings from overseas exchanges.

  • Now, billionaires won’t be able to collect foreign-currency dividends from depository receipt programs.

  • The decree also means foreign holders of the canceled receipts must receive normal shares placed in non-resident accounts in Russia.

In a blow to Russia’s richest business…


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