Russian cabinet backs investor limits
The Russian cabinet on Wednesday gave tentative approval to a long-delayed bill restricting foreign participation across 40 industries that the government deems strategic, including energy and metals, the Moscow Times reports.
Investors and analysts cautiously welcomed the proposal, which would for the first time establish the rules under which foreigners will be allowed to invest in strategic projects. The bill would allow the government to reject foreign bids for stakes of more than 50 percent in Russian companies across 40 sectors that have "strategic importance for national security," Industry and Energy Minister Viktor Khristenko told the Cabinet, a version of his comments posted on his ministry's web site said.
The Federal Security Service will be one of the agencies that will screen foreign bids, the Moscow Times reports.
Kommersant said Wednesday that the FSB had insisted on the list of 40 industries. Izvestia said all bids would be screened by the FSB before they went to the government committee. Both the government spokesman and Ushakova said they could not confirm that. The FSB declined comment to the Moscow Times.
Investors and analysts cautiously welcomed the proposal, which would for the first time establish the rules under which foreigners will be allowed to invest in strategic projects. The bill would allow the government to reject foreign bids for stakes of more than 50 percent in Russian companies across 40 sectors that have "strategic importance for national security," Industry and Energy Minister Viktor Khristenko told the Cabinet, a version of his comments posted on his ministry's web site said.
The Federal Security Service will be one of the agencies that will screen foreign bids, the Moscow Times reports.
Kommersant said Wednesday that the FSB had insisted on the list of 40 industries. Izvestia said all bids would be screened by the FSB before they went to the government committee. Both the government spokesman and Ushakova said they could not confirm that. The FSB declined comment to the Moscow Times.