The first issue of state savings bonds may take place in July 2004, MICEX deputy general director Valery Petrov declared at a conference devoted to Russia's pension system. As reported earlier, long-term pension assets will be invested in state savings bonds. According to Petrov, the maturity of the bonds will amount to 10 to 15 years. "We will receive a liquid instrument to work with pension funds," Petrov said.
The government considered draft regulations on the terms of the issue of state savings bonds in March, 2004.
France is used to terminating large-scale contracts, as that was the case of the Russian-French deal on Mistral helicopter carriers