Key takeaways

• On November 4, 2014 the Russian President signed into being Federal Law No. 343-FZ on Amendments to the Federal Law on Foreign Investment in Commercial Entities with Strategic Importance for National Defense and National Security and Certain Legislative Acts of the Russian Federation coming into force on December 6, 2014.
• The law changes the scope of strategic investment control in Russia by releasing some transactions from strategic clearance, as well as bringing the acquisition of property classified as the fixed production assets of a strategic company under the scope of regulation.
• The law also provides the possibility to apply for extension of validity of approval of a transaction and introduces additional additions and clarifications to current regulation of strategic investments.