How will a business be able to change a foreign jurisdiction to a Russian one.

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A bill simplifying the transfer to Russia of Russian companies registered in Europe and the United States has been adopted by the State Duma. To do this, it will be enough to deprive foreign companies of the rights to Russian assets in Russian courts. It is proposed to deprive not all foreign companies owned by Russians of their rights to Russian assets, but only those that, for one reason or another, do not comply with the company’s procedures.
Only organisations of “economic importance” are subject to the procedure considered a change of foreign jurisdiction. According to this concept, the implementation is carried out as follows. The shareholders or management of the company, or a representative of the state, file a lawsuit with the Arbitration Court. The court makes a decision to deprive a foreign company or holding of their shares. After that, she no longer has the right to dispose of shares, and dividends are not paid.
This step provides companies with Russian shareholders with the opportunity to return to paying dividends. At the same time, there is no effective way to counter foreign companies and a foreign regulator as a whole. Their consent is not required to transfer control to the Russian jurisdiction. At the same time, there will be no real consequences for Russian companies.