Department for Control over Foreign Investments

During the bailout of Financial Corporation Otkrytie PJSC Bank, the Central Bank of the Russian Federation identified a suspicious transaction for the acquisition of 100% shares in AGD-Diamonds JSC (Arkhangelsk region) from Lukoil PJSC by the Otkrytie Holding JSC in 2017 through its 100% subsidiary Otkrytie Industrial Investments LLC. The transaction amount exceeded the value of the enterprise more than 2 times.

Experts described in detail the practice and specifics of the investment law at a workshop held by a branch of FAS Centre for Education and Methodics (Moscow)

The list of the most frequent violations includes: failure to notify transactions establishing control over strategic companies, failure to notify transactions with strategic companies, and submitting incorrect or incomplete data upon official FAS requests

Changes concern the enactments regulating control over Russian strategic economic entities, transactions of offshore companies and the work of the Government Commission on Foreign Investments

The company, controlled by a foreign investor, was unlawfully harvesting aquatic biological resources. It attempted to challenge the actions of the antimonopoly body on depriving it of the catching right