Putin signed a new decree on April 16 that requires Russian companies to remove their listings from overseas exchanges.
Now, billionaires won't be able to collect foreign-currency dividends from depository receipt programs.
The decree also means foreign holders of the canceled receipts must receive normal shares placed in non-resident accounts in Russia.
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In a blow to Russia's richest business people, President Vladimir Putin signed a decree on April 16 that requires Russian companies to remove their listings from overseas stock exchanges.
That means Russian billionaires who own the companies listed abroad won't be able to collect foreign-currency dividends from the depository receipts.
In addition, the decree that Putin signed means foreign holders of the canceled receipts must receive normal shares placed in non-resident accounts in Russia. »
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