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Industry

Russia to limit publication of company, procurement data

05 January 2018

The Russian government has passed a law granting the Cabinet the right to conceal information about commercial entities as well as individuals, in an apparent bid to head off the effect of fresh US sanctions that may target defence enterprises.

The law was approved by Russia's lower house, the Duma, on 20 December, and the upper house on 26 December, and signed into effect by President Vladimir Putin at the end of the month, Russian news agency TASS reported. It is specifically aimed at ensuring the security of financial deals for enterprises supplying state defence contracts, TASS said.

In particular, the new law will allow shareholding companies to not disclose financial information in certain circumstances, as well as limiting information about certain individuals on the internet.

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