Russian government revealed its new approaches towards foreign investment regulation by adopting Regulation № 992 «On Conclusion of International Investment Treaties by Russia» dated 30.09.2016. Both the methodology of conclusion bilateral investment treaties (BIT) and substantive issues thereof have changed. It is stated that Russia can enter into agreements with foreign states, groups of the states, international organizations and other entities. Such enlargement of BIT participants reflects the current situation in international relations, in particular conferral of certain competences to integration organizations. New procedures and competences in BIT conclusion may contradict the previous state-to-state BITs still in force. As the BIT is usually concluded for 10-15 years and can be renewed, a long transition period should be expected. New regulation on BIT conclusion procedures includes criteria to assess reasonableness of negotiations and general approaches to conclusions of BITs. The Ministry of Economic Development of Russia (the Ministry) is a leading authority in BIT negotiations. Four specified criteria should apply in assessing the reasonableness of BIT negotiations and examining investment regulation of the party as well as bilateral political and economic relations. Appling the criteria, the Ministry should analyze wide notions of economic interest, investment climate, international relations and obligations and may face certain difficulties. What parameters and data should be used to examine investment climate? What international rankings and surveys are reliable and objective? Having substituted a ready-made model text of a BIT by general approaches, Russia modified the methodology of proposed BIT negotiations and showed its priorities in the sphere of investment regulation. Russia will try to convince the other party to fix the principles and doctrines it promotes. However, the final text of a BIT will reflect the common interests and policies of the parties as agreed upon during negotiations.