PRESIDENT OF THE RUSSIAN FEDERATION SIGNED A LAW AIMED AT STRENGTHENING CONTROL OF FOREIGN PARTICIPATION IN THE FISHING INDUSTRY

The law developed by FAS Russia establishes state control over transactions involving the acquisition of Russian companies by foreign investors

It is aimed at expanding the list of Russian economic entities, in order to establish control over which foreign investors need to obtain the prior consent of the Governmental Commission for Monitoring the Implementation of Foreign Investments in the Russian Federation.

The law establishes state control over the conclusion of transactions for the acquisition by foreign investors of those companies that are engaged not only in the extraction (catch) of aquatic biological resources, but also carry out other processes in the field of fisheries.

The list of activities of strategic importance for ensuring the country's defense and state security is expanding. It will include acceptance, processing and conversion, transshipment, transportation, storage of fish products.

Thus, in accordance with the Federal Law No. 57-FZ* fishing in general will be the strategic activity.

According to FAS Russia, the changes established by law will increase the effectiveness of state control over the implementation of foreign investments in the field of fisheries.

* Federal Law of 29.04.2008 No. 57-FZ "‎On the Procedure for Foreign Investments in Economic Entities of Strategic Importance for Ensuring the Country's Defence and State Security"‎