Putin Signs Law on Strategic Sectors

President Vladimir Putin on Monday signed a long-awaited law on strategic industries, designed to clarify which assets will be off-limits to foreigners, the Kremlin said in a statement.

The signing of the law is a milestone in one of the chief aims of Putin's presidency: to bring strategic industries, above all oil and gas, back under state control after they were sold off during the privatization of the 1990s.

Analysts praised the law for clarifying the rules of investing in Russia, where a lack of mature legislation has led to political risks. Investors, however, have complained that the law limits access to more than half of the country's economy.

It lists 42 sectors where foreign investment will be restricted, such as nuclear energy, natural monopolies, exploration of strategic mineral deposits, aviation, space and other defense-sensitive industries.