Russia introduced new regulations to reduce the management of Russian fish production enterprises by foreign investors

Russia-Russia Information Network Moscow: Russia's "Gazette" recently reported that according to the current regulations, Russian foreign investors holding more than 50% of Russian enterprises after obtaining permission from the Russian government's foreign control committee is eligible to fish.
, Russia's anti-monopoly agency has proposed lowering the target for foreign investors' controlling interests in the fishing sector to 25 percent and tightening restrictions on foreign investors.
Within a year of the new rules' entry into force, foreign investors with 25-50% stakes must obtain permission from the Russian government's Foreign Investment Committee to continue holding shares or reduce their shares, or they will be stripped of their voting rights by the courts.
the Russian Federal Antimonopoly Service, the new rules are aimed at reducing the management of Russian fish production enterprises by foreign investors.
although foreign investors hold less than 50 per cent of the shares in fishing enterprises, Russian companies often rely on foreign investors because the articles of association and other documents require the participation of co-owners in making key decisions.
the Russian Antimonopoly Service, for example, three fishing companies in the Far East, Alitet-DV, Airup and Oladon, have problems with illegal control of foreign investors.
, the Russian Federal Fisheries Service will abolish fishing quota agreements for companies found to be illegally controlled by foreign investors.
, a partner at the Russian law firm, said the 25 per cent new share ratio rule would have no impact on Russia's large fishing companies because they are controlled by Russian citizens.
will provide a legal basis for preventing foreign investors from controlling Russia's strategic industries.
Russian Dobroflot Group Manager Evremov pointed out that there is no need to coordinate foreign investors holding less than 50% of Russian enterprises involved in fisheries development, because the willingness of foreigners to invest in Russian fisheries is not high, mainly because of the complexity of Russian fisheries legislation, and customs, veterinary departments and fisheries departments often interpret the law very differently, enterprises often encounter various problems and restrictions.
The Russian Bureau of Statistics said that there are currently 144 foreign-funded fishing enterprises in Russia.
rules will affect about 70-100.
all-Russian Fisheries Association supports the new rules, arguing that foreign investment will help Russia gain access to new technologies or open up new markets, but at the same time prevent its uncontrolled access to the fishing sector.
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