OREANDA-NEWS. July 14, 2008. In accordance with № 510 Decree of the Government of the Russian Federation "On the Government Commission for Control of Foreign Investments in the Russian Federation", the Federal Antimonopoly Service (FAS Russia) is made the federal executive body authorized to control foreign investments in the Russian Federation, reported the press-centre of FAS Russia.

The Decree of the Government of the Russian Federation also appointed the Commission for Control of Foreign Investments. Igor Artemyev, the Head of FAS Russia is appointed the Executive Secretary of the Commission.

To exercise the new authority, the Antimonopoly Service has formed a new unit - the Department for Control of Foreign Investments, chaired by Svetlana Levchenko, who was the Deputy Head of the Department for Administrative Service and Control of Government Agencies (prior to that had been the Head of the Perm Regional Office of FAS Russia).

According to Svetlana Levchenko, the primary objective of the new Department is to create in the shortest possible time the necessary control mechanisms for enforcing the legislation on foreign investments on the whole territory of Russia. FAS Russia sent letters to its regional offices with an instruction to submit to the central office information on all petitions covered by the law "On the procedures for effecting foreign investments into economic entities, strategically important for defense and state security".