Duma Official Comments on Bill on Nationalization

Nationalization should become an instrument for returning state property, deputy chairman of the State Duma property committee Nikolay Orefiev announced at today's parliamentary hearings. The hearings were devoted to the settlement of problems with nationalization procedures. He stressed that the process of nationalization did not have necessary legislation in this country. Orefiev explained that according to existing bills, property could be alienated only if the state reimbursed the cost of property and some other losses.

The Duma official stated that Russian legislation did not provide regulations for nationalization procedures, which made nationalization almost impossible. Moreover, Orefiev disagreed that property was nationalized only in favor of federal authorities and called for the transfer of nationalized property to regional and municipal authorities.

Earlier today, Senior Deputy Property Minister Alexander Braverman announced at the hearings in the State Duma that the Cabinet would introduce a bill on nationalization to the lower house of parliament before the end of 2002.