The Executive Order was signed in connection with the need for immediate measures in response to the unfriendly actions taken in violation of international law by the United States and other foreign countries and international organisations that side with it.
The Executive Order establishes that business entities operating as economically significant organisations under Federal Law No. 470-FZ of August 4, 2023, On Specificities of Regulating the Corporate Relations of Economically Significant Organisations, and certain affiliated individuals, have the right not to disclose and/or provide other information subject to disclosure and/or provision under Russian Federation law.
Under the Executive Order, business entities shall provide information on their operations on the request of federal executive authorities, however, such information is not subject to disclosure, including in government information systems and other sources.