This note intends to achieve three things:
First and foremost, it provides a detailed overview of Russia's regulatory regime governing foreign investment in so-called "strategic" sectors of the Russian economy. It discusses the scope of application, approval procedure, exemptions, case law and transactional tips, and contains flowcharts for ease of use.
Secondly, it highlights draft amendments that will likely be adopted in the course of 2020. These amendments are designed to close certain loopholes. They do not, however, substantially change the existing regime.
Finally, this note attempts to provide a brief outlook on the impact that the COVID-19 pandemic is likely to have on future legislative amendments and the practical application of the foreign investment regime.