| Other Photos |
 |
|
 |
Deposits to Be Ruled Strategically Important in March
The Russian Industry and Energy Ministry is to come up with amendments for the law to curb foreign investments in state-important mineral deposits, Kommersant learnt. Yet, the document is widely debated by the Industry Ministry and the Trade and Economic Development Ministry.
The Industry and Energy Ministry is currently drafting a bill to be submitted to the State Duma and President Vladimir Putin by April 1, a high-placed source of Kommersant at the Russian Government reported. The Industry Ministry, the Economic Development Ministry and Natural Resources have not agreed on the draft yet but it will have to be sent to the government on March 2.
The overall view of the Industry and Energy Ministry on defining strategically important deposits and restricting the access for foreign companies to them raises no questions. The ministry suggests that uranium, diamonds or oil deposits of over 150 million metric tons, gas deposits of over 1 trillion cu. meters, gold deposits of over 700 metric tons and copper deposits of over 10 million metric tons should be called strategic. However, the Industry and Energy Ministry wants to impose restrictions on companies who lay claims on these deposits while the Natural Resources Ministry would prefer to restrict the access to deposits so that it could decide on the status of a deposit. The Trade and Economic Development Ministry, on the contrary, pushes for lighter restrictions, only “informative” measures. It means that the government will be able to strip a foreign company of a license for a state-important deposit by a decree or at court, or altogether overlook it “given the situation”.
Presumably, Prime Minister Mikhail Fradkov is eager to settle the matter by the Moscow session of G8 energy ministers on March 31. Stanislav Naumov, the aide to the Industry and Energy Ministry, told Kommersant yesterday: “We expect to receive last remarks and recommendations from the legal department of the presidential administration one of these days. Afterwards, the draft will be finally drawn up and submitted to the government on March 2.”
Dmitry Butrin
All the Article in Russian as of Feb. 17, 2006
|
|
|
