Russian State Duma Bans Foreigners From Analysing Russian Economy

• 17.01.2024, 5:51

The deputies approved the bill in the first reading.

Foreign analytical companies will be deprived of the opportunity to study commodity markets and consumer behaviour in Russia. The State Duma deputies approved the corresponding bill in the first reading.

In case the document is finally adopted, the right to conduct such research will only be granted to those firms, 80% of the authorised capital of which belongs to Russian legal entities or individuals. Moreover, such companies must have an annual revenue of at least 30 million rubles, be based in Russia, have local registration and use domestic technical means. All data collected by them will also be stored in the Russian Federation.

Amendments will be made to the law on state regulation of trade activities (FZ-381). After that, the Federal Antimonopoly Service (FAS) should create a special register to keep track of analytical companies engaged in commodity market research.

The authors of the bill believe that foreigners should not track price changes and spending dynamics of Russians, as such information can be used by "unfriendly" states to "restrain economic growth" of Russia and negatively affect its security. "This is food security, health security, pharmaceutical security and so on," specified the co-author of the initiative Vladimir Gutenev.

In turn, his colleague Anton Gorelkin said that many foreign companies left Russia after the war in Ukraine began, but foreign analytical firms such as Ipsos, GfK and Nielsen continue to operate. They collect, study and sell data on Russians' consumer preferences, attitudes, financial capabilities and health, but how this information is used is unknown, the lawmaker said. According to Gorelkin, "with a high degree of probability" it "turns into analytical reports for foreign governments" and is used to "correct sanctions".