Putin heads govt. commission to monitor foreign investment

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MOSCOW, July 9 (RIA Novosti) - Russian Prime Minister Vladimir Putin has been appointed chairman of a government commission to monitor foreign investment in Russia, the cabinet said Wednesday on its official website.

Putin's only deputy will be First Deputy Prime Minister Igor Shuvalov, while Igor Artemyev, head of the Federal Antimonopoly Service, has been appointed executive secretary.

Other commission members include Deputy Prime Ministers Igor Sechin, Sergei Ivanov, and Sergei Sobyanin (who is also government chief of staff), Federal Security Service (FSB) Director Alexander Bortnikov, and Economic Development Minister Elvira Nabiullina, as well as other ministers and government officials.

Any deals involving foreign investment in so called strategic enterprises will be subject to approval by the commission.

Russia's new law on foreign investment, which requires government approval for all foreign investors seeking to buy more than a 50% stake in a company in one of 42 strategic sectors, came into force in May.

State-controlled foreign companies are required to seek permission to acquire more than 25% of shares in strategic enterprises, which include oil, gas, the nuclear industry, arms production, fisheries, airspace, and the media.

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