Putin discusses Russia’s economy growth with ministersBusiness & Economy September 24, 2:38
Lavrov warns against partition of SyriaRussian Politics & Diplomacy September 23, 0:00
Lavrov calls to coordinate Russian, US military action in SyriaRussian Politics & Diplomacy September 22, 21:05
Lavrov blames Obama administration for souring Russia-US tiesRussian Politics & Diplomacy September 22, 20:41
Waging war on Korean Peninsula inadmissible, says LavrovRussian Politics & Diplomacy September 22, 20:36
Russian Northern Fleet completes drills in ArcticMilitary & Defense September 22, 18:01
OPEC and non-OPEC countries to continue talks on oil production cut dealBusiness & Economy September 22, 17:28
Russian pair figure skaters Kavaguti, Smirnov retire from sportSport September 22, 16:48
Record number of delegations register for St. Petersburg-hosted IPU AssemblyRussian Politics & Diplomacy September 22, 16:47
MOSCOW, May 17. /TASS/. The State Duma approved on Tuesday in the second and the third (final) reading the draft law changing the status of the Russian Direct Investment Fund (RDIF). According to the law, the RDIF now actually becomes the sovereign fund of the Russian Federation.
Approved norms determine the procedure of transformation of the RDIF into the nonpublic joint stock company, where the Russian Federation will be the sole shareholder. It also stipulates the Russian President will appoint the chief executive of the Fund and members of its Supervisory Board.
The law identifies main objectives, tasks and functions of the Fund, its legal standing and structure of the governance authorities.
The law vests broad powers in the Supervisory Board, such as approval of the budget, annual reports, accounting balance sheets, profit appropriation, approval of individual transactions, decisions on co-financing of investment projects at the expense of the RDIF, and certain other ones, head of State Duma’s Property Committee Sergei Gavrilov said earlier.