On the 26th of February Association of European Businesses organised an open meeting to discuss the Draft Law on foreign investments into strategic sectors of the economy. It is currently under consideration in the State Duma of the Russian Federation and is entitled “On Procedures for Making Foreign Investments into Commercial Organisations Having Strategic Significance for the Russian Federation’s National Security”. The members of the meeting stressed the importance of the draft law.
“The Draft Law is very important for the EU-Russian trade relations. The main purpose is to determine the role of such relationship and to develop system for making foreign investments into Russian economy and its strategic branches,”- Matvey Levant, managing partner of Levant and partners law firm.
The 40 strategic branches are listed in Article 3 of the Draft Law and can be classified into 7 types: military, space and special equipment, nuclear energy. aviation, cryptography, natural monopolies as well as metals and alloys used in arms and the military.
In October 2007, the AEB presented its comments to the working group and the internal Duma organ responsible for amending the Draft Law. Proposals made by the AEB were considered and introduced into the amended law version.