Source Pravda.Ru

Russian PM postpones acquisition of Armenian companies

The Russian government approved amendments to agreements between Russia and Armenia on repaying Armenia's state debt to Russia. As the Government Information Department reported, according to a decree, signed by Russian Prime Minister Mikhail Kasyanov, the deadline of passing Armenian property for repaying its debt to Russia is postponed till September 5, 2003.

The Russian Foreign Ministry was assigned to exchange notes with Armenia and allowed to make amendments and additions to the attached draft, which had no principle meaning.

Before September 5 Armenia will have to pass to Russia shares of a number of companies for repaying its debts, which are JSC Mars, involved in electronic goods production, the Yerevan Scientific Research Institute of Automated Management Systems, the Yerevan Scientific Research Institute of Mathematical Machines, the Yerevan Scientific Research Institute of Materials Science, and the Razdanskaya steam power plant. According to earlier agreements, Armenia had to do this before March 15.