Russian Government Okays Rules on Strategic Assets

The Russian government gave initial approval Wednesday to long-awaited draft legislation restricting foreign companies’ access to Russia’s natural resource wealth and select Russian industries, Russian news agencies reported.

Over a year in the making, the new rules designate large oil, gas, gold, and copper deposits as strategic, and place limits on foreign companies’ ability to develop them.

Ten oil deposits, each holding more than 70 million metric tons of oil, or about 513 million barrels, are covered by the draft law, Trutnev said. The combined total of those oil fields is 1.376 billion metric tons, or 10.09 billion barrels.
Rigzone