The Recent Changes to the Legal Regime of the Foreign Investments in the Fuel and Energy Sector of Russia

Abstract

Approved by the Government of the Russian Federation's the Energy strategy till 2030 notes that the production of fuel energy, according to the strategy, will continue to grow, in particular through the development of new fields in Eastern Siberia and in the Far East, including beyond the Arctic Circle in the Arctic region. It is expected that by 2030 Russia will produce 880-940 billion cubic meters of gas and about 530-535 million tons of oil per year. Modern international experience shows that the proper condition and functioning of the fuel and energy complex is possible only by investing in this sphere of the significant investment and the availability of relevant government and regulatory policies, and well-chosen tactics of investors attracting can contribute to sustainable development and growth of innovative competitiveness indicators. The key point to attract the major investments is the availability of an appropriate regulatory frameworks. There are the basic legislative acts governing this field with their recent changes in the present article.

DOI: 10.5901/mjss.2015.v6n5s2p79