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MOSCOW In a move that will significantly constrict Russias fast-shrinking space for independent reporting, Russian President Vladimir Putin on Wednesday signed into law a measure that will curtail foreign ownership of media outlets in his country.

The decision extends the Kremlins control over some of Russias most prominent independent publications, a few of which have broken news critical of Putin and his allies at a time when tensions between Russia and the West are at their highest level since the Cold War.

The move comes as Russias powerful state-run media has labored round-the-clock to glorify Putin and denigrate groups perceived to be the nations enemies. Leaders of those outlets the sources of news for the vast majority of Russians are unapologetic and open about their efforts as propagandists, a term they use to describe themselves.

Even though Putin long ago consolidated his control over television and many print news outlets, there had been independent options for the smaller set of Russians who sought alternative voices for news, and the Internet was a particularly unregulated space. But over the past year, one news source after another has been blocked, closed or editorially redirected.

The bill quietly signed into law on Wednesday will limit foreign ownership of media assets to 20 percent by the beginning of 2017.

We understand very well that those who own information own the world, lawmaker Vadim Dengin, the author of the bill, said during a parliamentary debate before the law was approved. When foreigners come here to make money and then actively influence the media market and use it for their own benefit, at this moment, I want to say that I am ready to close down Russia and ensure its security.

Dengin, a member of the nationalist LDPR party, said a cold information war was being waged against Russia.

The law deals the sharpest blow to Russias most prominent independent daily newspaper, Vedomosti, which aspires to Western standards of journalism.

Vedomosti is co-owned by a tri-national consortium Dow Jones, the Financial Times Group and Sanoma, a Finnish media company and focuses on business reporting, a sensitive topic given Russias tanking economy and dim prospects for the future. The newspaper has chronicled the troubles of Russias most powerful companies as the economy has slowed and Western sanctions have taken hold.

Our politicians have developed a mania of control, said Tatiana Lysova, Vedomostis editor in chief. We do not report to the Russian authorities, so that is why we are a potential danger in their mind, a potential enemy.

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Russias Putin signs law extending Kremlins grip over media