Russia: Entry into force with grace period of Federal Law No. 301-FZ amending Law on the Protection of Competition including merger control regulation

On 10 July 2023, Federal Law No. 301-FZ amending Law on the Protection of Competition, previously Bill No. 160280-8, entered into force after it was signed and published in the official gazette. The Law 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 Law, 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 Law enters into force on 1 September 2023.