Russia pondering clampdown on energy and mineral asset controls

Oct 16, 2006 | 11:06 AM | Natalia Kassakovich

Russia is mulling tighter controls over its energy and minerals resources by extending the definition of "strategic" resources and revising the rules governing foreign investors in the sector.

The Industry and Energy Ministry has submitted an amended version of proposed legislation to the Russian Duma (parliament) that identifies seven industry sectors to be declared "strategic."

The law will cover oil deposits that contain more than 70 million tonnes of oil and gas deposits with 50 billion cubic meters of gas, as well as copper deposits of more than 500,000 tonnes and gold deposits of more than 50 tonnes.....

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