Key takeaways

• 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.