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The Council said in the conclusion released on its website that a bill "On mass media" in effect at present already bans foreigners from establishing media agencies in Russia; while foreign participation in charter capital of economic entities is limited under a bill “ On the order of making foreign investments into economic communities of strategic importance for Russia's defense and security."
The Council expressed concern, fearing that the proposed measure to limit foreign investments into the media sector might be interpreted as an attempt to undermine the material basis of independent mass media and infringe on the freedom of the mass media in Russia.
Earlier, the State Duma had passed a bill that limits the share of foreign participation in the charter capital of the Russian mass media to 20% The bill passed by the State Duma and approved by the Federation Council, will come into force if signed by the Russian president.