Reference
The implementation of the Agreement and the Protocol hereto will ensure Russian and Iranian investors the long-term stability and predictability of the legal environment, which will be conducive to the invigoration of investment, trade and economic cooperation between the two countries.
The draft agreements between the government of the Russian Federation and the government of the Islamic Republic of Iran on the promotion and mutual protection of capital investment and the Protocol hereto (hereinafter referred to as Agreements and Protocol) were prepared by the Ministry of Economic Development in keeping with the Government’s instructions.
The directive approves the draft Agreements and Protocol.
The Agreement, in particular, provides for:
- access for investors from one state to the territory of the other state in keeping with the law of the host contracting party;
- granting investors from the other side treatment no less favourable than that granted to the side’s own investors or investors from any third state;
- reservation by each side of the right to apply and introduce, in compliance with state law, exemptions from national regulations with regard to foreign investors and their capital investment.
In addition, the Agreement establishes the investor’s right to receive commensurate compensation in case damage has been caused to his capital investment. It guarantees the unhindered transfer of investment-related payments abroad and provides for measures of judicial protection of investors.
The Draft Agreement and Protocol are not in conflict with the Treaty on the Eurasian Economic Union of 29 May 2014, or the provisions of other international treaties of the Russian Federation
The implementation of the Agreement and the Protocol hereto will ensure Russian and Iranian investors the long-term stability and predictability of the legal environment, which will be conducive to the invigoration of investment, trade and economic cooperation between the two countries
The documents were considered and approved at a Government meeting on 10 December 2015.