Baikal Lobridge at AmCham: Foreign Investment Regulation

On July 9, 2026, Zhanna Logacheva, Project Lead, GR & Risk at Baikal Lobridge, spoke at a meeting of the Legal Affairs Committee of the American Chamber of Commerce in Russia (AmCham). Her presentation focused on the evolving environment for foreign investors in Russia and the challenge of balancing tighter oversight of foreign capital transactions with the need to attract international investment.

Zhanna outlined the two-track model of foreign investment regulation that has taken shape under the current conditions. The first track focuses on tighter oversight of investments in specific sectors of the economy, including strategically important industries, as well as increased scrutiny of financial flows.

The second provides targeted incentives for investors willing to operate under the current regulatory framework.

According to the expert, as investment activity slows, the government's attention is increasingly turning to external sources of capital. At the same time, foreign companies are adapting to a new regulatory environment, where technological sovereignty, production localization, and the protection of strategic interests are becoming increasingly important.

A key part of the presentation focused on recent changes to Russia's foreign investment legislation. In particular, Zhanna discussed the expanded scope of the law on strategic investments, which now covers additional categories of assets, as well as proposed amendments that could extend regulatory oversight to the IT sector, including artificial intelligence technologies, online marketplaces, and data centers.

Particular attention was also given to financial restrictions affecting foreign companies, including rules governing cross-border transfers, dividend payments, and the use of special accounts.

The presentation also covered the investment support mechanisms currently available, including Type "In" accounts, international advanced development territories, and other measures designed to attract investment.

Another topic was the changing geography of investment flows. According to Zhanna Logacheva, the structure of foreign investment has changed significantly in recent years, with investment from countries designated as "unfriendly" declining, while capital inflows from friendly and neutral countries have increased.

The meeting also brought together legal advisors and the business community and business to discuss practical legal issues, including the use of irrevocable powers of attorney and the regulation of temporary administration under Presidential Decree No. 302.

Baikal Lobridge thanks the American Chamber of Commerce in Russia for the invitation and the opportunity to contribute to the discussion on the evolving regulation of foreign investment in Russia.