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Putin fulfilled Kadyrov’s request and handed the oil company to Chechnya

Russian President Vladimir Putin signed a decree on transferring to the Chechen Republic 100% of the shares of OAO Chechenneftekhimprom (CHNPP), which were still in federal ownership. In 2015, the head of the region Ramzan Kadyrov asked about the transfer of the company to Chechnya.

The decree of Putin, published on the Internet portal of legal information, states that the decision was made on the proposal of the governments of Chechnya and Russia “for the purpose of developing industrial production in the Chechen Republic and increasing the efficiency of the use of property” of the company “Chechenneftekhimprom.”

The decree entered into force on September 18, 2018, the authorities of Chechnya are given two months to transfer the shares to Chechnya.

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