Russian Cabinet to Discuss Improving Control of Foreign Investment in Strategic Sectors

MOSCOW (Pakistan Point News / Sputnik - 16th April, 2020) The Russian government will on Thursday consider a bill increasing the effectiveness of state control over foreign investment in strategic sectors, the cabinet said in a statement.

The draft law introduces amendments to the Federal law "On the procedure for making foreign investments in business entities of strategic importance for ensuring the country's defense and state security.

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"The draft law provides for the exclusion of the possibility of non-compliance with the requirements of Russia's legislation on foreign investments by foreign investors when they sign agreements aimed at temporarily transferring the right of a foreign investor to directly or indirectly dispose of voting shares (stakes) of a business entity that is of strategic importance for ensuring the country's defense and state security," the cabinet said.