Parliament receives draft on nationalization

Russian Prime Minister Mikhail Kasyanov ordered the introduction of a draft federal bill on the nationalization of property owned by individuals and legal entities, the department of government's information reported.

According to earlier reports of Senior Deputy Property Minister Alexander Braverman, the draft is based on four principles. Firstly, nationalization can be performed only for providing defense capacity and security in the country. Secondly, nationalization will envisage compensation for the cost of property and possible losses to the owner of property. The third principle stipulates that nationalization expenditures will be included in classified budget items. Finally, nationalization will not be used as a punishment. Property subject to nationalization will be estimated by independent experts and compensations for property will be paid in full without partial installment.