SHUVALOV KNOWS NOTHING ABOUT DRAFTING OF LAWS RESTRICTING FOREIGN PARTICIPATION IN RUSSIAN OIL AND GAS COMPANIES

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MOSCOW, October 28 (RIA Novosti) - Presidential aide Igor Shuvalov knows nothing about the drafting of any bills restricting the participation of foreign companies in the capital of Russian oil and gas companies.

"I do not know anything about such facts, although the matter has been mooted for a long time now," he said.

At the same time, Mr. Shuvalov pointed to the successful performance of the TNK-BP company, where shares are divided fifty-fifty.

According to Mr. Shuvalov, all oil and gas companies in the world have ambitious plans in relation to Russian companies in the fuel and energy sector.

"We, for example, do not know the upshot of a deal between LUKoil and ConocoPhillips, because, although the company has a small stake in LUKoil, it has far-reaching plans," he said.

The presidential aide assured investors of Russia's invariable course towards democratic development.

"Investors should have no doubts whether or not to put money into Russia," Mr. Shuvalov told a conference in Moscow on investments.

Commenting on the president's last initiatives, including altering the procedure for electing regional heads, Mr. Shuvalov said that they "in no way signify we are changing our course."

"All that Mr. Putin has said before will be implemented," the presidential aide gave an assurance.

At the same time he acknowledged that though Russia remains attractive to investors, it also has some risks.

"Risks exist and will exist for some time due to the inadequacy of some institutions," Mr. Shuvalov said.

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