Controversial new legislation placing a 20% limit on foreign ownership of media companies in Russia is likely to have wider implications than previously thought.
Kommerant reports that the law, which after having been adopted by the State Duma and last week approved by the Federation Council now just awaits President Putin’s signature, will also impact on mobile operators, private pension funds and banks.
In the case of mobile operators, almost of which has some degree of foreign backing, they will be affected as their sites are listed as ‘electronic periodicals’.
The new law is set to come into effect in February 2016, with Russian companies and individuals controlling stakes in media assets through foreign structures getting a ‘reprieve’ until February 2017.
