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Law specifying harvesting procedure of certain aquatic bio resources as an activity of strategic significance

July 2, 2021

Vladimir Putin signed Federal Law On Amendments to the Federal Law On Fisheries and Preserving Aquatic Biological Resources and the Federal Law On the Procedure for Making Foreign Investment in Companies of Strategic Importance for National Defence and State Security.

The Federal Law sets forth the specifics of harvesting aquatic biological resources as an activity of strategic significance for national defence and state security.

The Federal Law determines the indicators that a legal entity involved in harvesting aquatic biological resources is under control of a group that includes a foreign investor.

The law provides for a reduction in the share of participation by a foreign investor or a group of persons that includes a foreign investor, in the charter capital of companies involved in harvesting aquatic biological resources.

July 2, 2021