SELECTED ASPECTS OF THE DEVELOPMENT OF LEGAL REGULATION OF INVESTMENT ACTIVITIES INVOLVING FOREIGN ENTITIES IN RUSSIA

Abstract

Introduction. The Russian Federation's defense of its political and economic interests has led to an escalation of contradictions between Russia and a group of Western states. This conflict caused an unprecedented amount of sanctions restrictions against the Russian Federation, which resulted in the withdrawal of a significant number of foreign companies and capital from the domestic market. Naturally, all this had a negative impact on the economy of our Fatherland, and created the need to rethink the issues of admission of foreign capital and legal regulation of the activities of foreign persons on its territory. Meanwhile, the Russian state has accumulated significant experience in regulating this area back in the pre-revolutionary period, which, in our opinion, makes it relevant to study the evolution of domestic legal norms in the field of investment relations, including at the interstate level. It is precisely these aspects that the present study is devoted to. Methods. The research is based on the application of logical, historical, dialectical techniques and methods of scientific knowledge, comparative legal and legal-technical analysis of texts of normative acts. Analysis. A retrospective analysis of the legal regulation of investment relations in Russia took place in two directions: a comparison of the forms in which such processes were carried out within the Russian state and other countries; and also through an assessment of the content of international agreements of our Country and domestic legislation in the field of admission of foreign entities and their capital to its territory. Results. The conducted research allowed us to draw several final conclusions. Firstly, the initial forms of investment in both Western Europe and Russia were associated with the development of colonial acquisitions and new territorial spaces, which necessitated the concentration of internal financial resources, and the formation of certain organizational and legal efforts and actions. Secondly, the intersection of the interests of the merchant class of Russia and the state itself with similar entities from other states became the basis for the emergence of interstate agreements in this area. Their content initially addressed limited issues of mutual admission of representatives of the merchant class to their territories and the definition of their legal status. Later, such agreements formed full-fledged standards and rules for building relations with foreign entrepreneurs in general, namely, the principles of reciprocity, freedom of trade and navigation were established.; the national regime or the regime of the most favored nation for foreigners in the host state, etc. was consolidated. When dealing with these issues, Russia tended to create a permissive procedure for foreign investment and strict protection (protectionism) of the domestic market and entrepreneurs.