Due to the unfriendly actions of the United States of America and certain other foreign states and international organisations aligned with it – actions that contravene international law and impose restrictive measures on citizens of the Russian Federation and Russian legal entities – and in order to protect the national interests of the Russian Federation and pursuant to the Federal Law On Security and the Federal Law On Measures to Impact (and Counter) the Unfriendly Actions of the United States of America and Other Foreign States, the President has signed an Executive Order introducing a mechanism for the expedited disposal (sale) of federal property as per presidential decisions, to strengthen national security and defence capability.
Under the Executive Order, a decision by the President of the Russian Federation may introduce specific provisions for the application of Russian legislation, including laws on privatisation, joint-stock companies, limited liability companies, the securities market, banks, banking, and competition protection.
The Executive Order stipulates that PSB Bank will act on behalf of the Russian Federation in organising the sale of federal property subject to privatisation and will carry out the functions of the seller of such property.