Licenses issued by Ukraine for the Crimean shelf became invalid
26.07.2018 19:54
(Moscow time), Moscow
Subsoil areas of the unallocated fund on the shelf of the Azov and Black Seas in the vicinity of Crimea will be put up for auction. Only those companies in which the share of Russian participation is at least 50% will be able to take part in it.
The State Duma of the Russian Federation adopted the corresponding law today in the third reading. According to the document, the rights to use subsoil areas will be transferred to the company after the necessary decision of the Government.
Amendments are being made to Article 2 of the Federal Law “On the peculiarities of legal regulation of relations in the sphere of subsoil use in connection with the admission of the Republic of Crimea to the Russian Federation and the formation of new entities within the Russian Federation - the Republic of Crimea and the federal city of Sevastopol.”
This is necessary so that those licenses on the Crimean shelf that were issued by the Ukrainian government and subsequently not renewed are declared invalid.
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