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Tuesday, June 18, 2024

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    Putin issues a decree on the foreign administration of firms, which disrupts the state defense order.

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    Russian President Vladimir Putin signed a regulation on Friday establishing external management in firms that break the state defense order.

    According to the decree, “till the abolition of the military situation,” if companies violate their commitments under defense contracts, including supply terms, the rights of such companies’ shareholders and the functions of their controlling bodies would be suspended.

    The government would appoint external management for such corporate organizations based on the proposals of the Industry and Trade Ministry.

    Putin also issued a decree establishing a working group on issues concerning firms engaged in state military order fulfillment. At this time, it will report to the government’s Military-Industrial Commission.

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