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| "Russia's Strategic Industries Law: Latest Developments" |
| V&E; Legal Update, October, 2007 |
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News in mid-July that the Russian Government had formally submitted to the State Duma the much-anticipated draft framework legislation regulating foreign investment in strategic industries sent international oil and mining companies rushing to get hold of the text of the draft. However, they were disappointed to learn that, despite clarifying (to some extent, at least) the restrictions to be imposed on foreign participation in companies involved in a number of industries classified as ‘strategic,’ the draft bill did not address ownership of interests in strategic natural resources deposits. Unfortunately for potential natural resources investors, patience will be required for a little longer. To learn more, read an analysis of the draft law.
For further information concerning international participation in Russia’s ‘strategic industries,’ please contact Rob Patterson or Natalya Morozova, both partners in Vinson & Elkins’ Moscow office, via e-mail or telephone on +7 495 544 5800.
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