The Russian Duma adopts a bill prohibiting the issuance of licenses for the development of national mineral resources by foreign companies

Moscow-Sana

The State Duma of Russia today adopted a bill that specifically prohibits the issuance of licenses for the development of mineral resources by foreign companies.

According to the Russian TASS news agency, according to the amended bill approved in the second reading, only legal entities established in accordance with the law of the Russian Federation, as well as individual entrepreneurs who are citizens of Russia, can use national mineral resources.

It is recalled that if the law was adopted within 30 days from the date of its entry into force, foreign legal entities must be notified of the need to transfer the right to use a plot of land to a Russian legal entity and then within 90 days foreign subsoil users are required to create a legal entity in accordance with the legislation of the Federation Russian in order to continue their activities.

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