State Duma sets 1st reading debate on bill to limit foreigners' share in Russian media for Sept 23

A bill that reduces foreign stockholders' share in Russian media companies from 50 percent to 20 percent and bans foreigners from establishing media outlets in Russia will be debated by the State Duma at the first reading on September 23.

A bill that reduces foreign stockholders' share in Russian media companies from 50 percent to 20 percent and bans foreigners from establishing media outlets in Russia will be debated by the State Duma at the first reading on September 23.

The bill was submitted by members of three parliamentary factions - the Communist Party of Russia, the Liberal Democratic Party and A Just Russia. The leadership of the United Russia Party supports this initiative.

State Duma Speaker Sergei Naryshkin said on Thursday that proposals to restrict foreign stockholders' share in Russian media companies were in line with international standards.

"It is international, routine practice when national legislation protects the domestic market, and international standards here range from 20 percent to 49 percent. The goal is clear - to protect national sovereignty," he told reporters, answering a question from Interfax.

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