Putin signs decree to remove Russian stocks from overseas exchanges in huge blow to the nation

Putin signs decree to remove Russian stocks from overseas exchanges in huge blow to the nation's billionaires.

On April 16, Putin signed a new regulation requiring Russian companies to delist from foreign stock exchanges.

Billionaires will no longer be able to receive foreign-currency dividends through depository receipts.

Foreign holders of cancelled receipts shall henceforth obtain regular shares in non-resident accounts in Russia, according to the regulation.

The restriction on foreign listings is the latest setback for Russian billionaires, who have already been hit by Western sanctions and Moscow's own capital controls, which limit their ability to move money outside.
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