(Bloomberg) -- Russian State Duma, the lower house of the nation’s parliament, has voted to order the delisting of Russian companies’ shares and depositary receipts from foreign stock exchanges.

According to the law’s amendments, which will only take effect after approval by the Federation Council and Vladimir Putin’s sign-off, trading in Russian companies’ depositary receipts on foreign exchanges will have to stop 10 days after its official publication. 

On Russia’s MOEX Index, stocks with foreign listings, such as Yandex NV, Ozon Holdings Plc and HeadHunter Group Plc, were among the biggest decliners on Wednesday. 

Companies will be given five business days to terminate any agreements on the placement of their depositary receipts, according to the amendment. The Russian government may give permission for already traded depositary receipts to continue trading. 

 

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