Russia allows companies to classify data on work in Crimea

The Russian government has allowed to classify the information about legal entities working in the occupied Crimea. The corresponding resolution No. 729 was published and signed by Russian Prime Minister Dmitry Medvedev on June 10.

The resolution states that access to information in the Unified State Register of Legal Entities of the Russian Federation may be restricted if a company works on the territory of the annexed Crimea and Sevastopol. Companies that work on the Russian state defense projects and that have sanctions against them can also classify their data in the register.

Companies will be able to hide the information about their owners, managers, the presence of subsidiaries in the Crimea, and the licenses.

According to Bloomberg, Western sanctions cost Russia 6% of GDP.

The US introduced first sanctions against Russia for the annexation of Crimea and the war in the Donbas in 2014. The restrictions affected vital sectors of the Russian economy, including Russian oil company Rosneft, state-owned banks, and defense industry.

  Russia, Medvedev, Crimea, USA