Russia: Issued Supreme Court ruling affirming the ban on foreign participation in the authorised capital of media entities

On 20 November 2023, the Russian Supreme Court affirmed the position of the Federal Service for Supervision of Communications, Information Technology and Mass Media (Roskomnadzor) regarding the ban on foreign participation in the authorised capital of media entities. According to Article 19.1 of the Media Law, foreign involvement in a Russian legal entity is prohibited. The prohibition applies to media outlets, even if the foreign share is below 20%. The decision follows Roskomnadzor's identification of a Russian legal entity with foreign involvement as a co-founder of the Kalininets newspaper, leading to the suspension of the publication's activities until the violations are rectified.