The Supreme Court removed businessman Dmitry Potapenko from the elections to the State Duma. Its shares in Yandex and Sberbank were recognized as foreign assets

The Supreme Court of Russia has canceled the registration in the elections to the State Duma of the candidate from the Russian Freedom and Justice Party (RPSS), businessman Dmitry Potapenko, Interfax reports.

The lawsuit was filed by the Central Election Commission in connection with information about the presence of some candidates, including Potapenko, foreign financial instruments. As Potapenko himself said , it was about the shares of Yandex and Sberbank that he owned, purchased through brokers.

Sberbank shares are traded on the London Stock Exchange, while Yandex securities are traded on the NASDAQ. As Kommersant wrote , the participants in the United Russia primaries were told that Yandex shares fall under the concept of foreign financial instruments. Under Russian law, candidates must, among other things, carry out “alienation of foreign financial instruments” before being nominated.

The first candidate removed from the current State Duma elections for owning foreign assets  was the  director of the Lenin State Farm Pavel Grudinin. In July, the CEC removed him from the federal list of the Communist Party of the Russian Federation on the basis of information from the Prosecutor General’s Office that he owns shares in Bonto, registered in Belize.

(C)MEDUZA 2021

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