Oil companies criticize International Financial Center

Oil companies go on struggling against the legislation amendments accompanying foundation of the International Financial Center in Russia. First of all, they are concerned about the affiliation criteria giving too much power to minority shareholders. The Executive Office of the President and Russian Union of Industrialists and Entrepreneurs (RUIE) supported the oil companies, however, the government and independent lawyers consider the amendments vital.

The Head of the Executive Office of the President, Sergey Ivanov spoke against the proposal of International Financial Center to introduce amendments to the fourth chapter of the first part of the Civil Code stipulating changes in the definition and the criteria of affiliation, the sources close to the Kremlin said. This viewpoint is described in the letter of Ivanov to the vice-PM and the Chief of the RF Government Staff, Sergey Prikhodko of October 3.