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Executive Order expanding exemptions to the ban on transactions with assets of financial, and fuel and energy companies

March 19, 2024

The President signed Executive Order On Amendments to Presidential Executive Order No. 520 of August 5, 2022, On the Application of Special Economic Measures in the Financial, and Fuel and Energy Sectors in Connection with the Unfriendly Actions by Some Foreign States and International Organisations.

The Executive Order allows mutual investment fund management companies to carry out transactions with investment units of these funds or with their assets if the assets include shares that make up less than one percent of the authorised capital of a legal entity, which transactions require separate approval from the head of state.

March 19, 2024