The Finance Ministry of Russia has chosen ZAO Citibank as an agent for aswap deal on the commercial debts of the former USSR. This decision wasmade after a closed tender for agents. The tender was held in accordancewith the federal law on tenders for provision of goods and services for thestate of May 6, 1999. This information was officially published by theFinance Ministry of Russia. The amount of verified commercial debts is $1.1bn as of now. The Eurobondsthat this debt will be swapped for will be issued at the end of Septemberor at the beginning of October 2002. .
The choice of the city of Helsinki is not incidental as the capital of Finland had hosted US-Soviet negotiations on the limitation of nuclear stockpiles in 1969