OREANDA-NEWS The Russian Ministry of Finance has submitted an application to the Arbitration Court of the Moscow Region for the suspension of corporate rights held by Cypriot and American owners of Russian Standard Group companies, Rust Russia and Russian Standard Vodka. This was reported on the website of the Ministry of Finance.

The Ministry recalled that, given the significant importance of these companies for the Russian economy, the government in November 2022 included Rust Russia JSC and Russian Standard Vodka LLC on a list of economically significant organizations. This allows the Ministry of Finance to apply to an arbitration court to suspend the exercise of corporate rights by foreign companies holding these organizations.

"Foreign holding companies, Pasalba Ltd (Cyprus) and Roust Corporation (USA), in light of anti-Russian sanctions, have committed actions that prevent Russian companies from carrying out their operations," the Ministry of Finance stated.
In order to address these illegal actions, the Russian Ministry of Finance has submitted applications to the Arbitration Court of Moscow Region for the suspension of Pasalba and Roust's corporate rights related to Rust Russia Joint Stock Company and Russian Standard Vodka Limited Liability Company, according to materials on the ministry's website.