Internet companies recognised as “significant” in Russia may soon have restrictions placed on their levels of foreign ownership.
Kommersant reports that a draft law submitted to the State Duma and proposed to come into effect on January 1, 2020 would see the imposition of a 20% foreign ownership limit.
It adds that a government commission, working on the basis of proposals from the regulator Roskomnadzor, would determine if a company was “significant”.
The law is likely to impact a large number of companies including Google, Facebook, Yandex and Mail.ru.
