Problems of Legal Regulation of Foreign Participation in the Subsoil Use Sector

Considering the trends toward resuming cooperation with foreign companies in the field of mineral extraction, the issues of legal regulation regarding access for foreign entities to Russian subsoil resources require close attention. The present study, based on an analysis of legislation and law enforcement practice, identifies gaps in legal regulation. These gaps lead to inconsistent law enforcement concerning the granting of licenses for subsoil use to organizations with foreign investor participation, the entry of foreign investors into the charter capitals of Russian companies holding such licenses for work on subsoil plots of local, regional, or federal significance, as well as temporary counter-sanction economic measures in the subsoil use sector. Proposals have been formulated aimed at resolving the considered problems by improving regulatory legal acts. These proposals are intended, on the one hand, to contribute to establishing an adequate level of legal certainty for investors and improving the investment climate. On the other hand, they are designed to safeguard the interests of national economic security, preventing unscrupulous foreign investors from circumventing control procedures and regulatory approvals when acquiring assets of Russian subsoil user companies.

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