Special Update on Amendments to Legislation Relating to Foreign Investments into Strategic Sectors in Russia
On 6 December 2014, amendments to the Law on Foreign Investments into Strategic Sectors in Russia entered into force.
Generally, the amendments are designed to liberalize the regulatory framework on foreign investments into Russian companies of strategic importance. In particular, they limit the scope of transactions which are subject to approval, provide for possibility to extend the term for earlier issued transaction approval and specify the list of strategic types of activities. Contrary, the amendments impose approval requirements for new types of transactions including those with property of strategic companies. The application of certain novelties would require a position of the regulatory authorities to be formed and relevant court practice to be developed.
This special update provides the most important amendments introduced to the Law.