Russian companies, whose depositary receipts are traded on Western financial markets, will have to return to the Russian stock market, unless the government makes “another decision”, the head of the Ministry of Economic Development Maxim Reshetnikov said at a briefing. Interfax writes that.

“Our Russian shares, Russian issuers, unless the government makes a different decision, will be obliged to return here,” he said.

The minister added that this refers to companies that have depositary receipts on foreign platforms.

“Now the shareholders who own these receipts have the opportunity to apply and convert these receipts into shares that are already traded on our stock markets here at home,” the head of the Ministry of Economic Development emphasized.

Reshetnikov explained that these depositary receipts come from the period of formation of the Russian financial market, when shares of the largest issuers, including Gazprom (MCX:GAZP), Rosneft (MCX:ROSN), Aeroflot (MCX:AFLT), Sberbank (MCX:SBER) and many other Russian companies, were pledged to foreign large banks, which issued receipts on them, which were traded on stock exchanges.

“Now, when we have a gap in shares can be not only times, but somewhere even dozens of times – there and here (here shares are more expensive), there is no sense to quote them there,” – said the Minister.