Russia moves to limit foreign investment

[OhioChick]

Source: ZeeNews/India

Moscow, April 02: Russia's lower house of Parliament has backed new restrictions on foreign investment, limiting access to key sectors such as oil and gas, aerospace and mass media.

The legislation is raising concern among foreign investors since it widens the powers of Russian security services in business transactions.

The State Duma passed the bill on Wednesday. It now goes to the Federation Council and the Kremlin for signing by the President.

The legislation stipulates that any private foreign company seeking to buy more than 50 percent of a company in one of 42 "strategic" sectors will need authorisation from a special commission.



Read more: http://www.zeenews.com/articles.asp?aid=434136&sid=BUS&ssid=51

[unkachuck]

1. like our CFIUS?

"...it widens the powers of Russian security services in business transactions."

http://en.wikipedia.org/wiki/Committee_on_Foreign_Investment_in_the_United_States

[David__77]

2. Sensible move.

Russia's national security has been under attack for a long time now.