Russia Adopts Laws to Tighten Control on Foreign Investment in Key Industries

 / Go to the mediabankBanknotes / Go to the mediabankMOSCOW (Sputnik) – Russian President Vladimir Putin signed two bills into law on Thursday in a bid to tighten control over foreign investment in organizations of strategic importance for the national security. The package, published on the official website for legal information, details the clearance process for transactions between foreign organizations and sensitive businesses in Russia, including purchases of more than a quarter of stock. The new laws also require the government to clear any deal that would give an externally controlled business access to Russia’s biological resources in the excess of 35% of the allowed catch. The list of resources is subject to the government’s approval. A company with a majority foreign ownership that looks to get involved in an industry deemed strategic will need to obtain a license from the state Russian commission for foreign investment oversight, unless it is a foreign-based company controlled by a confirmed Russian legal resident.

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