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New Prohibitions and Restrictions Imposed on Offshore Companies Acquiring Russian Assets
18 July 2017
View Client Update
Effective 1 July 2017, new restrictions apply to acquisitions of strategic companies in Russia by offshore companies.
The new rules apply the same requirements to offshore companies as acquisitions by foreign states and international organizations.
Offshore companies cannot establish control over strategic companies or acquire state or municipal property.
Offshore companies will need Russian government clearance prior to acquiring more than 5% of the voting rights in a strategic subsoil user or more than 25% of the voting rights in other strategic companies.
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