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27 Feb, 2008 09:17

No investment veto for FSB

Russia's Federal Security Service – the FSB – will not be able to stop foreign companies from buying into Russian ones under a new law going through parliament.

According to the Vedemosti Newspaper, the FSB wanted the power to veto a purchase if it considered there was a threat to Russia's security.

But a Kremlin session ruled the security service will only be able to make recommendations. Final decisions will rest with a governmental commission.

The law would allow foreign companies to buy up to a 25 per cent stake of a company in Russia's strategic sectors.