Russia to Further Restrict Foreign Ownership Rules

A bill to restrict foreign ownership in Russia’s media will soon go before the parliament, which is dominated by MPs loyal to President Vladimir Putin.

If made law, the measure will put a 20% ceiling on any foreign stakes in Russian media, including those held indirectly through Russian partners.

Russia’s main media outlets are state-owned or controlled by loyal oligarchs.

But top Putin ally Sergei Zheleznyak said Russia was facing “an information war unleashed against the country”.

Russian TV news has accused the Ukrainian government of provoking clashes in eastern Ukraine through acts of aggression, including indiscriminate shelling of civilians.

The Kiev government blames pro-Russian separatists for the violence, and says Russia has fomented it by supplying soldiers and heavy weapons to the rebels.

The media bill is to go before Duma (lower house) deputies on 23 September, Itar-Tass news agency reports.

The restrictions would apply to magazines and internet publications as well as newspapers and broadcast media.

The bill is highly likely to become law as it was proposed by MPs who usually support the pro-Kremlin group United Russia.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza