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MOSCOW, March 4 The government has approved a list of six economically significant organizations (ESO), the corresponding document is available .
An EZO includes a Russian business company that is essential for ensuring the economic sovereignty and economic security of the country. The list of such organizations is compiled by the government. To be included in it, they must meet one or more criteria — for example, it could be a systemically important bank or a company whose group has more than four thousand employees.
This list includes:
- AB Holding JSC (the structure that controls Alfa Bank);
- UNS-Holding LLC (beneficiary of AlfaStrakhovanie) ;
- X5 Corporate Center LLC (Russian holding structure of X5);
- Acron Group JSC (part of among the main shareholders of Acron);
- LLC «City Supermarket» («ABC of Taste»);
- LLC «Arshanovsky open-pit mine.»
At the beginning of September last year, the law “On the peculiarities of regulating corporate relations in business companies that are economically significant organizations” came into force in Russia. This document gives the controlling shareholders of EZO the rights that they cannot use due to Western sanctions — to transfer shares and interests owned by foreign investors from unfriendly countries to Russian jurisdiction and receive dividends from them.
< br />To do this, the authorized executive body must submit an application to the Arbitration Court to suspend the corporate rights of a foreign holding company in relation to an economically significant organization. Depending on the area of activity, companies should contact the Ministry of Finance, the Ministry of Industry and Trade or the Ministry of Energy.