Hi everyone,
I am a Russian citizen and a US green card holder (resident), working at Cisco in San Jose. This week I received an email from my employer notifying that my RSU vesting will be paused until further notice. Here is the reason they provided:
"Effective March 2, 2022, US companies can no longer engage in share transactions with Russian citizens residing within or outside of Russia, unless expressly allowed by the Russian government."
I believe they are referring to this document: http://kremlin.ru/events/president/news/67886, but I am not sure if this policy is applicable to me.
I want to figure out if Russian citizens in other US companies have also faced this problem. If not and you received RSUs after March 2nd - please let me know. It might be the case that Cisco misinterpreted the policy in that document.
Thanks!
#rsu #Russian #cisco #engineering
UPDATE: Just received a new email from Cisco with more details:
"On February 28, 2022, Russia’s President issued Decree 79 on special economic measures in connection with the U.S. imposed sanctions and then again, on March 2, 2022, imposed further countermeasures under Decree 81 (which took effect on March 1 and 2, 2022, respectively). Under these sanctions, U.S. companies cannot issue shares to Russian residents, unless expressly allowed by the Russian government. The term Russian residents includes Russian citizens (regardless of whether they are working inside or outside of Russia) and foreign citizens working in Russia with a valid permanent Russian residency permit ("вид на жительство" in Russian).
As such, until the Russian government lifts these restrictions (and assuming no others are imposed), these countermeasures will affect all Russian residents and will impact all stock related plans (including RSUs and the Employee Stock Purchase Plan (ESPP)). Refer to Decrees 79 and 81 for more details. "
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comments
(Words original from the link above, emphasis mine.)
Isn't it ironic that it's actually this orrick article that might violate the fake news law instead?
They claim "resident" applies to nonresidents, simply based on "nationality" (not even citizenship!), but never substantiate such an opinion with any references whatsoever.
They even prefix it with "likely" to further disclaim any liability for incorrect information. Note that the whole page intentionally omits the words "citizen" and "green card" for some extra FUD.
To top this off, because they effectively strongly suggest discrimination against "any Russian national" instead of even a "Russian citizen", it might as well violate both the Russian and American law against discrimination based on a national origin. So much for an "insight".