OREANDA-NEWSThe Russian Government has approved a list of information that Russian companies and banks can classify in order to reduce the damage caused by the sanctions and reduce the threat of new ones. In the list of 18 points - from business partners to foreign exchange transactions. The government has identified a list of information that issuers (companies and banks that issue securities) may not publish, fearing Western sanctions, follows from the government’s decree of April 4.

The rationale for the new resolution states that, under the conditions of Western restrictions, the new rules will allow companies to respond quickly to the expansion of the sanction lists and remove their counterparts (partners) who have fallen under sanctions from the blow. This is due to the threat of “secondary sanctions”: since the adoption of the American CAATSA law in 2017, companies from third countries who collaborate with persons under sanctions may themselves be subject to US restrictions.

The list of information that issuers have the right not to disclose or disclose to a limited extent, consists of 18 points, follows from a government decree. In particular, their number includes: information about company management, about the transactions made by the company, ownership structure (holdings, subsidiaries and parent companies), about shareholders (minority and majority), about the company's business partners, about the financial investments of the company, about the risks taken by the company and their assessment, about corporate disputes, about the counterparties of the company, including their geographical and industry structure.

Credit organizations also have the right not to disclose information: on transactions in foreign currency, about the distribution of funds in the accounts, depending on the type of customers and about segments of its activities.