(Reuters) – Russia’s lower chamber of parliament passed Wednesday a bill allowing companies to be delisted that were registered in Russia. The bill also allows for the exchange of depositary receipts on foreign bourses.

According to the bill, their deposits will be turned into Russian equity.

Listings abroad by several major Russian companies are a matter for prestige. The West has stopped selling Russian securities since Russia’s “special military operation” began in Ukraine, February 24.

This new law requires companies with foreign registrations to act to dissolve agreements that allow the trading of deposits outside Russia.

The bill that was published by the Duma said, “It’s not permitted to place or organise the circulation of shares from Russian issuers beyond the Russian Federation through placing, in compliance with foreign law securities of foreign issuesrs that are certificate rights in respect shares of Russian Issuers.”

Russian-rooted companies that did initial public offerings on foreign exchanges (IPOs) will not be affected. Yandex TCS Group (NASDAQ:)

The bill was approved by lawmakers after the London Stock Exchange suspended trading of depositary receipts, which are shares in a foreign firm — in Russian companies’ early March stock exchanges after records low prices.

After Russia sent thousands of troops to Ukraine, London’s depositary receipts at Russia’s biggest lender Sberbank dropped to nearly zero after that.

Moscow: Sberbank’s Moscow shares increased 8% to $141.6 roubles ($1.77) a piece over the 10 days since Moscow Exchange began trading again after nearly a month of hiatus.

Before it can become law, the new bill must be passed by both the upper chamber of parliament and President Vladimir Putin.

According to the Russian central bank, foreign stock exchanges with Russian roots will continue listing securities even after they withdraw from foreign bourses.

($1 = 79.8500 roubles)