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Draft law on amendments to the law on subsoil resources has been submitted to the State Duma for ratification

August 27, 2012

Vladimir Putin submitted to the State Duma for ratification the draft Federal Law On Amendments to the Law On Subsoil Resources and Certain Legislative Acts of the Russian Federation.

The draft law aims to improve the regulatory environment concerning use of subsoil resources of federal importance.

The draft law entails amendments to the Law On Subsoil Resources, in accordance with which auctions will become the only form of bidding for rights to develop subsoil resources of federal importance, and also amendments to the federal laws On the Russian Federation’s Continental Shelf, and On Gas Supply in the Russian Federation.

August 27, 2012