OREANDA-NEWS. May 5, 2008. The federal law protects Russia’s national interests and will help to create a clear and transparent business climate for foreign investors.

The law sets out the terms for foreign investment in enterprises considered to be of strategic importance for Russia’s defence and security.

The law establishes the procedures and conditions for preliminary approval of deals that could lead to foreign control of strategic enterprises and also sets out the procedures and conditions for approval of such control without the deal being carried out.

Mr Putin also signed a federal law making the relevant amendments to Russian legislation, in particular the Law on Mineral Resources, the Law on Search and Investigation Activities, the Law on the Continental Shelf, the Law on Joint-Stock Companies, the Law on Limited Liability Companies, the Law on Foreign Investment, the Law on Communications, and the Law on Protection of Competition.