Analysts believe that the new system for awarding exploration and development licenses would be clearer and more transparent. Actually the bill avoids an outright ban on foreign companies gaining access to new reserves, allaying fears that foreign investment could be restricted and economic growth hit.
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Russian Government Limit Access For Foreigners
Duma, the Russian parliament, approved on Thursday a bill on subsoil natural resources
Duma, the Russian parliament, approved on Thursday a bill on subsoil natural resources giving more freedom to Russian producers, and, however, limiting access to some deposits for foreigners.
Earlier in February, Russia?s Natural Resources Minister Yury Trutnev announced foreign investors would be banned from participating in bids for the biggest Russian gold and oil reserves.
Analysts believe that the new system for awarding exploration and development licenses would be clearer and more transparent. Actually the bill avoids an outright ban on foreign companies gaining access to new reserves, allaying fears that foreign investment could be restricted and economic growth hit.
Analysts believe that the new system for awarding exploration and development licenses would be clearer and more transparent. Actually the bill avoids an outright ban on foreign companies gaining access to new reserves, allaying fears that foreign investment could be restricted and economic growth hit.
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