Armenia gives Russia shares in its five enterprises

Armenia's government has given Russia shares in its five enterprises as part of its national debt repayment to Russia. On Tuesday Russian Minister of Industry, Science and Technology Ilya Klebanov and Armenian Defence Minister Serzh Sarkisyan signed corresponding documents in Yerevan following the results of intergovernmental negotiations.

The shares in "Mars", "Yerevan Scientific Research Institute of Materials", "Yerevan Scientific Research Institute of Mathematical Machinery", "Yerevan Scientific Research Institute of Automated Control Systems" and the property of the Razdansaya thermo-power station have carried over to Russia.

Accordingly, Armenia has fully liquidated its debt to Russia worth around one hundred million dollars, Russian Prime Minister Mikhail Kasyanov told journalists.

The handover of property meets both Russian and Armenian interests, according to the Premier. The ministries of the two countries have been developing this decision for about a year and a half, he said. Russia assumes obligations to see to it that the newly acquired enterprises work to their full capacity, Kasyanov stated.