The bill on the participation of foreign investors in the capital of Russian strategic organizations was sent for approvals to the agencies concerned

The Russian Ministry of Industry and Energy, taking into account the discussion at a meeting of the Russian Government on January 31, 2007, has reworked and sent for approvals to the Ministry of Economic Development of Russia, the Ministry of Defense, the FSB (Federal Security Service) of Russia, and the Ministry of Natural Resources of Russia the draft law On the Procedure of Foreign Investment in Commercial Organizations of Strategic Importance for the National Security of the Russian Federation. The draft law has been amended, notably as regards optimization of the level at which decisions are taken on the application of a foreign investor to concentrate the said powers in the hands of a government commission headed by the Chairman of the Government of the Russian Federation.

In connection with the pressure of time, the Ministry of Industry and Energy of Russia, in conformity of the Rules of the Government of the Russian Federation, has requested that the materials submitted be considered with ten days.

The full versions of the draft federal law On the Procedure of Foreign Investment in the Russian Federation in Commercial Organizations of Strategic Importance for the National Security of the Russian Federation and the federal law On Introducing Amendments into some Legislative Acts of the Russian Federation in Connection with the adoption  of the Federal Law on the Procedure of Investment in the Russian Federation in Commercial Organizations of Strategic Importance for the National Security of the Russian Federation is available in the newspaper Yezhenedelnik promyshlennogo rosta No 3(February 5-11, 2007). The newspaper is available at http://www.minprom.gov.ru/publication/weekly/archive/3/3/EPR3%2846%29.pdf.

For reference, Yezhenedelnik promyshlennogo rosta is the official publication outlet of the Ministry of Industry and Energy of Russia. Its chief editor is Kakha Kakhiani (kkk@mte.gov.ru). Editorial office telephone: +7 495 624 16 87.