Strategically important enterprises want to be protected from foreign investors

The Federal Antimonopoly Service (FAS) has proposed tougher punishment in case of violation of the law on foreign investment in strategically important companies for the country. The department wants to establish a direct rule that allows the state to withdraw everything acquired by a foreign owner as a result of a transaction that has not been agreed with the relevant government commission.

Now, after the recognition of such transactions as invalid, the foreign buyer returns the shares to the seller. Draft amendments to the law “On the Procedure for Foreign Investments in Business Companies of Strategic Importance for Ensuring the Defense of the Country and the Security of the State” is available from Vedomosti. The document was approved at the legislative commission on legislative activities, a source close to the commission said. The information was confirmed by a representative of the apparatus of Deputy Prime Minister Dmitry Grigorenko, who heads the government commission.