25.09.08

Legislation on the use of subsoil resources does not have universal limitations for Russian companies in relation to obtaining licenses for new fields. Foreign companies and non-state companies may be excluded from offering tenders (for example, for development of oil reserves on the continental shelf). Now, a new restriction may appear in Russia's anti-monopoly laws.

Along with other amendments prepared for government approval, FAS suggests prohibiting granting rights for fields to entities who already own over 35 percent of all developed reserves of that mineral in Russia. To overcome this restriction, companies will have to apply to the Russian government for special permission.

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