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Putin amends export control law

MOSCOW, November 30 (RIA Novosti) - Russian President Vladimir Putin has approved amendments to a federal export control law designed to improve security and current legislation, the Kremlin press service said on Friday.

The amendments to the Federal Export Control Law (1999) were introduced following security concerns regarding foreign trade activity, including international terrorism.

The law specifies a number of definitions in export control, sets new obligations and rights for foreign economic players, and grants the Russian government the authority to draw up lists of imported goods requiring licenses based on data submitted by the president.

The law will fill a loophole in current export legislation by passing responsibility for licensing foreign transactions, goods and technology to a special federal body.

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