Azat Posted January 3, 2002 Report Share Posted January 3, 2002 Armenia settles debt to Russia by handing over industrial December 29, 2001 5:11am BC-Armenia-Russia Armenia settles debt to Russia by handing over industrial enterprises to Moscow YEREVAN, Armenia (AP) _ Armenian officials transferred control of several industrial enterprises to Russia on Saturday in exchange for the cancellation of dlrs 98 million in debt. Russia was given control of three research and development enterprises based in the Armenian capital, Yerevan. Armenia also handed over control of the Mars command systems plant, which produces electrical devices, and the Razdan hydroelectric power plant, the Armenian government said. All of the enterprises had previously been part of the Soviet military-industrial complex before the dissolution of the Soviet Union. The transfer settles debt accumulated by the impoverished, landlocked former Soviet republic in the last 10 years, officials said. The agreement was foroally signed during a visit to the Armenia capital by Russian Deputy Prime Minister Ilya Klebanov. Both sides said they were pleased with the exchange. Klebanov said the past year "has been very successful for our economies in drawing closer together and for the realization of how we shall jointly develop," according to ITAR-Tass news agency. ---------------------- Soon it will be back to the old Soviet days. Quote Link to comment Share on other sites More sharing options...
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