TO USE RUSSIA'S MINERALS FOREIGN COMPANIES WILL HAVE TO BECOME "LEGAL PERSONS"

Subscribe
International
India
MOSCOW, November 24 (RIA Novosti) - In line with the new bill On Minerals, foreign companies willing to be entitled to make use of Russian minerals are to be registered as legal persons in Russia.

Natural Resources Minister Yuri Trutnev said this at a meeting on Wednesday with representatives of Russian oil and gas companies.

"Minerals of the Russian Federation should be respected. If you want to be entitled to use them, get registered", Trutnev said.

In turn, the spokesman for the Shell company told the conference that it is ready to be registered on the Russian territory very soon.

Yuri Trutnev also said that companies will be allowed to participate in the auction only upon paying 10 percent of the set payment. "In this case, we'll congratulate them and allow to participate. However, if the remaining 90 percent are not transferred later, the 10 percent will be put in the state budget", Trutnev said.

He stressed one more time that, under the new bill On Minerals, licenses will be recalled if the user of minerals fails to put the field into service within the time provided for in the license agreement. The minister said that all remarks and suggestions from companies will be considered and taken into account.

Vsevolod Gavrilov, deputy director of the board for property and land relations of the land use economy at the Economic Development Ministry, said that the bill is going to be considered by the cabinet at the sitting on December 9. "Relative materials will be submitted within a few days", he said.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала