Putin Signs Bill Curbing Foreign Media Ownership Into Law

October 15, 2014

Russian President Vladimir Putin has signed a bill into law that limits foreign ownership in Russian media to 20 percent.

Media reports in Russia on October 15 said the law signed by Putin also prohibits media outlets from being funded or run by foreign groups or individuals, including Russians with dual nationality.

The law requires owners of media companies with foreign-owned stakes of more than 20 percent to lower these stakes by February 2017.

Duma deputy Vadim Dengin, one of the authors of the bill, said last month that some 30 media outlets operating in Russia, including "Vedomosti," "Kommersant," and "Forbes," will be affected by the law.

Some media investors have criticized the bill as the Kremlin's latest attempt to stifle media freedom.

Based on reporting by rapsinews.ru and Interfax