Russia: Adopted Amendments to the Federal Law on the Protection of Competition Regarding (Bill No. 160280-8) including merger control regulation

On 5 July 2023, the Federal Council adopted the Bill amending the Federal Law On the Protection of Competition Regarding Unilateral Conduct (Bill No. 160280-8), including merger control regulation. The Bill amends the Federal Law on the Protection of Competition (No. 135-FZ) of 26 July 2006, which considered only the assets and revenue of the merging entities when determining if the notification threshold is reached for merger approval. Under the adopted Bill, the notification for merger approval will also be required if the acquisition or merger is worth more than RUB 7 billion. The acquisition would be subject to a governmental review and control through the Federal Antimonopoly Service (FAS). The FAS would have the right to extend the timeframe for consenting to the transaction if the deal affects foreign markets and national markets. The Bill, if signed into Law, would enter into force on 1 September 2023.