Foreign Investment in Strategic Industries: First Set of Amendments

In April 2008, Russia implemented a law to regulate foreign investment into sectors of national strategic importance. After two years of implementation, it has become apparent that the law imposes too many regulatory barriers and creates too many uncertainties for foreign investors. On 23 March 2011, Russia's Parliament (Duma) adopted a Bill on Amendments to the Federal Law that will seek to improve regulatory oversight of foreign investment in strategic entities. In advance of an anticipated second set of amendments to the law, Debevoise provides an overview of the amendments as they currently stand.