OREANDA-NEWS. November 19, 2013. In September 2013, the Federal Antimonopoly Service (FAS Russia) received a petition from “Eurasian Resources Group B.V.” (the Netherlands) on pre-approval of acquiring 100% voting shares of “Eurasian Natural Resources Corporation PLC” (ENRC) (the UK) involved in mining operations.

As commented the Head of FAS Department for Control over Foreign Investments, Armen Khanyan, the acquired Eurasian Natural Resources Corporation PLC” indirectly controls legal entities registered in the Russian Federation, while the petitioner - “Eurasian Resources Group B.V.” in accordance with Part 2 Article 3 of No. 57-FZ Federal Law “On the Procedures for Foreign investments in the Business Entities of Strategic Importance for the National Defence and State Security” is a foreign investor controlled by a foreign state – the Republic of Kazakhstan.

An investigation, particularly a review of documents accompanied the petition, showed that Russian companies do not exercise activities of strategic importance for the national defence and state security under Article 6 of No. 57-FZ Federal Law, do not have licenses for exercising such activities and do not own shares or stock and do not control economic entities that are of strategic importance for the national defence and state security.

“Therefore, at the moment purchasing ENRC by “Eurasian Resources Group B.V.” of the Netherlands does not require a pre-approval from the Government Commission on Control over Foreign Investments in the Russian Federation”, summed up Mr. Khanyan.