NEW MEMBERSHIP OF THE GOVERNMENT COMMISSION ON FOREIGN INVESTORS

Head of FAS Igor Artemiev is reappointed its Executive Secretary

On 16 March 2020, the Government of the Russian Federation signed an order¹, approving a new membership of the Government Commission for Control over Foreign Investments in the Russian Federation.

The new Commission is formed due to the change of the Government of Russia.

The Government Commission comprises representatives of the Government of the Russian Government, FAS, the Federal Security Service, the Ministry of Defence, the Ministry of Transport, the Ministry of Natural Resources and the Environment, the Ministry of Industry and Trade, the Ministry of Healthcare, the Minsitry of Energy, the Ministry for Economic Development, the Minsitry of Finances, the Minsitry of Justice, the Minsitry of Communications of the Russian Federation, the Federal Financial Monitoring Service (Rosfinmonitoring), the Federal Service for Technical and Export Control (FSTEC of Russia) and Rosatom State Corporation.

Background:

The Government Commission for Control over Foreign Investments in the Russian Federation is formed on the basis of No. 57-FZ Federal Law “On the procedure of foreign investments in economic entities of strategic importance for national defence and state security” of 29.04.2008 to control foreign investments in economic entities of strategic importance for national defence and state security.

29 petitions from foreign investors regarding Russian strategic companies were considered in 2019 (24 transactions were preliminary approved by the Government Commission сделки, 5 were refused). The total sum of the transactions preapproved by the Government in 2019 is 1.19 trillion RUB (≈ $18.63 billion), of which total expected foreign investments – 895.5 billion RUB (≈ $14 billion).

¹ № 640-p Order of the Government of the Russian Federation of 16 March 2020.