| Russian leaders have admitted that the modernisation of the economy will not be possible until there is some development of energy effective systems. This is demonstrated by the adoption of the Federal Law No. 261-FZ “On Energy Saving and Energy Efficiency Increase and Amending Certain Legislative Acts of the Russian Federation” (hereinafter referred to as the “Law”) which represents an important step forward notwithstanding its deficiencies and gaps (which are supposed to be filled by relevant bylaws). |