The Russian parliament is to debate new laws surrounding the oil, gas and minerals industries within the next month, it has emerged.

Resources minister Yuri Trutnev announced yesterday that the Duma would soon be discussing the details of the subsoil law, which, it is hoped, will spark investment in some of Russia's natural resources.

Reports on Reuters claim the Duma will sit later this month, with the details of the legislation now being checked ahead of scrutiny by the lower parliament.

Originally the law had been due for debate last year, but Mr Trutnev's efforts to ensure the changes do not open the door for overseas aggrandisement of domestic resources has meant delays.

Resources considered as "strategic" – ones which need to be preserved as a matter of national importance due to their scale – include the vast gold deposit Sukhoi Log and the Udokan copper field.

The subsoil law was envisaged as a means for developing Russia's biggest resources whilst ensuring the country could obtain maximum benefits, but there has been debate over which operations would be included.

Like the decision to declassify state secrets concerning the release of statistical information on the country's resources – including pgms – this has proved a lengthy and incremental process.


Ÿ Adfero Ltd