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Gazprom Requests More Governance Freedom to Respond to Sanctions More Quickly

  • Gazprom is asking the government to temporarily adjust corporate governance procedures for government-related companies to "promptly resolve problems of restructuring assets amid sanctions pressure."
  • It is being proposed to temporarily, for example until the end of 2022, cancel the mandatory issuance of directives to state representatives on the boards of directors of government-related companies on a number of issues related to the restructuring of assets.
  • Another proposal is to suspend the rule for a company to notify the Federal Property Management Agency about the decision taken by the board of directors to determine the price of assets
  • One more proposal is to suspend the rule on mandatory approval by the board of directors of transactions with assets or set a price threshold for their approval at 5% of the book value of PJSC Gazprom's assets. - IFX
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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