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FSB Unable to Prevent Nonresidents from Buying Russia’s Companies
The Federal Security Service (FSB) will have no authority to ban nonresidents from buying out stakes in the companies of Russia, Vedomosti reported.
FSB was to get the authority to veto a deal should it perceive any threat to the national security in it. The provision was spelled out in the bill on foreigners’ access to strategic industries of Russia, which second reading in the State Duma is slated for March 19.
But the bill has been amended in Kremlin. The resolution of recent meeting chaired by president’s administration chief Sergei Sobyanin is that FSB will submit the conclusion to the prime minister, and the government’s commission will decide on it.
The bill on nonresidents’ access to strategic industries commits foreign companies to agree with authorities the purchase of 25 percent to 50 percent in Russia's companies. The stake goes down to from 5 percent to 10 percent for the big fields of crude oil and gas and for the deposits of rough diamonds, uranium, platinum metals, gold, copper and other subsoil assets.
www.kommersant.com
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