Russian President Vladimir Putin has signed a law that allows the conversion of receipts of Russian companies, such as Gazprom or Sberbank, without recourse to foreign infrastructure. Receipts whose rights are accounted for in Russian depositories will be converted into local shares automatically after a Russian company initiates the process. If the rights are accounted for by foreign depositories, the holder may, within 90 days, apply to the Russian depository with a request for forced conversion.