Russia Restricts the Foreign Activities of Strategic Russian Enterprises

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On 11 September 2012, Russian President Vladimir Putin signed a Decree that will significantly restrict the ability of so-called “strategic” Russian companies to carry out their foreign operations. Decree 1285 “On Protection Measures for the Interests of the Russian Federation When Russian Legal Entities Perform Their Foreign Economic Activities”

(“Decree 1285”) requires that companies listed as “strategic” by the Russian government, as well as their subsidiaries, obtain permission from the Russian government before engaging in certain activities with foreign governments (including their regulatory and controlling bodies), international organizations and unions of foreign states. Specifically, when requested “by the bodies of foreign states or by international organizations, unions of foreign states, or bodies (institutions) of these organizations and unions”, such companies and their subsidiaries must not, without prior consent of the Russian government...

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Published In: Administrative Agency Updates, Business Organization Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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