Russian President Vladimir Putin has allowed Ozon to merge subsidiaries, the company will be able to merge Ozon-bank and Ekom-bank. Presidential decree published in the federal portal normative-legal acts.
“To allow the restructuring of Ekom Bank LLC in the form of a merger with Ozon Bank Limited Liability Company,” the order says.
The document states that the permit was granted “in connection with the hostile actions of certain foreign states and international organisations.”
At the end of February 2022, Ozon-Bank was blacklisted by companies from Russia. Central Bank of Russia in March gave License to Ekom-Bank controlled by Ozon to replace Onei-Bank which came under sanctions. Ozon decided to merge Ozon Bank and Ekom Bank in September last year, but the restructuring, which was expected to take place in December, was delayed.