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Decree No. 520
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Decree No. 520

Putin's August 2022 decree requiring his permission for unfriendly investors' deals in key Russian companies.

Decree No. 520 is Putin's 5 August 2022 decree requiring his permission for unfriendly-state investors' deals in key Russian assets. On 5 October 2026 he used it to clear the sale of AO UniCredit Bank.

Last refreshed: 12 October 2026

Timeline for Decree No. 520

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Background

Decree No. 520 is a Russian presidential decree that Vladimir Putin signed on 5 August 2022. It bars deals in shares and stakes held by investors linked to unfriendly states in strategic companies, the Sakhalin-1 and Kharyaga oil projects, energy equipment and refining firms, banks on a presidential list and major subsoil users.

Its initial term ran to 31 December 2022, and the president may extend it; it was still being applied in October 2026. Point 5 lets the president allow a barred deal by special decision, and deals made in breach are void. The decree cites the unfriendly actions of the United States and its allies, and Federal Law No. 127-FZ among its legal bases.

That power makes each Western exit a decision in the Kremlin. Order No. 368-rp of 5 October 2026, clearing the sale of AO UniCredit Bank, was issued under point 5.

Common Questions
What is Russia's Decree No. 520?
A decree of 5 August 2022 that bars investors from unfriendly states from dealing in shares of key Russian companies and banks without the president's permission.Source: President of the Russian Federation
How do Western companies sell Russian assets covered by Decree 520?
They need a special decision by the president under point 5 of the decree; deals made without it are void.Source: President of the Russian Federation
Which assets does Decree 520 cover?
Strategic companies, the Sakhalin-1 and Kharyaga projects, energy equipment and refining firms, banks on a presidential list and large subsoil users.Source: President of the Russian Federation
Source Material
Decree No. 520 of 5 August 2022