The Russia Monitor

As I mentioned in my previous post on this issue, the Commission on Foreign Investment was scheduled to meet for the third time in late-May, but it ultimately was pushed back to early-June. On June 8 the Committee met, and though eleven applications were on the agenda, they only made decisions on five, while the other six were given an extension. At the meeting, Putin acknowledged that FDI into Russia has fallen off a cliff since last year, and it makes me wonder whether they just held on to the other six applications so they wouldn't run out.

One of the applications approved was Suleiman Kerimov's formal acquisition of Polyus Zoloto (Полюс Золото) - he essentially owned it already and only had to go through the approval process because he used his off-shore investment vehicle to purchase it. Interestingly, the Commission again put off making a decision on Russneft and Basic Element.

Finally, the Commission actually allowed itself to be captured on camera for a brief, albeit scripted, moment. Still, as compared to the insane secrecy that surrounds meetings of the Committee on Foreign Investment in the United States (CFIUS), it's a mature step. Below is video of Putin briefly addressing the group: