Armenia republic settles its debts with research institutes and hydroelectric power stations
After the break up of the Soviet Union, its former republics did not become flourishing independent countries at all. Basically all of them owe Russia. Their debts continue to grow, and they continue to receive cheap resources from Russia. However, they can’t even pay for these.
Some of the republics are trying to find a way out, developing constructive measures of cooperation in terms of old debts. The poor republic of Armenia found a good way to pay its debt to Russia.
Armenia decided to introduce certain changes in the agreement between the governments of Russia and Armenia. This agreement stipulates handing over some of Armenia’s property to Russia as debt payments. As a result, Russia will take over the Armenian company Mars, a hydroelectric power station, the Science of Materials Research Institute, the Mathematical Machines Research Institute, and the Systematic Governing System Research Institute. In other words, the entire electronic and energy industries of Armenia are now the electronic and energy industries of Russia. It is up to Russia to decide which oligarch will be in charge of these valuable industries. Armenia was informed about it immediately.
Russian Prime Minister Mikhail Kasyanov stated (after the agreement was signed with Armenia) that the property deal between Russia and Armenia was good for both the interests of Russia and the republic itself. Indeed, the above-mentioned companies and enterprises (as well as many others) are not operating in the republic at the moment. If they try to produce something, then will not find a sales market for their products.
Russia will deal with the economic status of the above-mentioned Armenian companies. “We hope that the potential of the Armenian enterprises will be completely involved in the programs that are being implemented in Russia. We also think that these enterprises will be integrated into the Russian industrial complex ,” Russian Prime Minister Kasyanov stated.
It goes without saying that integrating into the Russian economy is not like integrating into the American economy, for instance. The Unites States far away, but Russia is very close to Armenia. Russia at least has an economy, which cannot be said about the republic of Armenia. In other words, integration into the Russian economy (or the retrieval of the integration level of the Soviet era, to be more precise), is Armenia’s one and only opportunity to survive and set up its own economy.
Armenian Prime Minister Andranik Margaryan returned the favor. He informed the Russian premier that Armenian laws were rather favorable for investors. Therefore, if Russia wishes to invest in Armenia, then “we will render all kinds of support possible.”
The most pleasant thing about the whole issue is the fact that Armenia’s debt to Russia of 98 million dollars is completely regulated now. The two countries can now develop commercial and investment relations to their full capacity. Let us just hope that these relations will not be overshadowed. Those Russian and Armenian companies that owe something to each other are free to go to court and settle their problems there. The laws of the two countries are rather suitable for this kind of litigation.
In addition, Armenia received Russia’s permission to develop its natural resources. Russia also has agreed to guard Armenia’s top secret information. To crown it all, Russian Prime Minister Kasyanov promised that Russia will deliver nuclear fuel to the Armenian Nuclear Power Plant. The latter will now operate at its full capacity.
It seems that Armenia set a good example of how other countries of the Commonwealth of Independent States should cooperate with Russia. It would be a good idea for Ukraine and Belarus learn a lesson here. These countries like to receive Russian oil and gas at very cheap prices. However, neither Ukraine nor Belarus are willing to give away any of their enterprises to Russia yet. Russia could even promise to protect them from international terrorists, for example.
Kira Poznakhirko PRAVDA.Ru
Translated by Dmitry Sudakov
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