State Duma has closed Russian markets to foreign research

The State Duma has passed a law restricting the participation of foreign companies in research of the Russian market. Companies admitted to work will have to comply with a number of requirements, for example, use technical equipment located in the Russian Federation.

The following are not admitted to research:

- a foreign state, an international organization, as well as an organization under their control;

- a foreign legal entity;

- a Russian legal entity if the share of foreign participation in the authorized capital is more than 20%;

- foreign citizens, stateless persons;

- citizens of the Russian Federation with other citizenships.

 Exceptions are cases provided for by international treaties.

 The State Duma explained that these measures should ensure economic sovereignty. Often, data on Russian commodity markets is used against the interests of the country.

Foreign companies often seek to discredit Russia, promote foreign products and services, in particular, educational ones, the authors of the bill note.

Author: Elina Akhmetova