Russia: Introduced Amendments to the Federal Law On the Protection of Competition Regarding Merger Control

On 7 July 2022, the Amendments to the Federal Law On the Protection of Competition (Bill No. 160280-8) were introduced in the State Duma of the Russian Federation. The Bill amends the Federal Law on the Protection of Competition (No. 135-FZ) of 26 July 2006. Under the current law, only the assets as well as the revenue of the merging entities are considered when determining if the notification threshold is reached. However, under the new Bill, this will now only be the case if the entire deal is worth more than RUB 7 billion to more closely regulate digital companies. If that threshold is reached, 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 the transaction if the deal affects foreign markets and national markets. Finally, clearance applications may either be considered in person or also in absence of the involved parties. If turned into law, the Bill would enter into force on 1 March 2023.