Armenia republic settles its debts with research institutes and hydroelectric power stations
After the break up of the Soviet Union, its former republics did not become flourishing independent countries at all. Basically all of them owed something to Russia. They keep on saving more and more debts, getting cheap resources from Russia. However, they are not able to pay even for that.
Some of the republics try to find a way out, developing constructive measures of cooperation in terms of old debts. The poor republic of Armenia found a good way to pay its debt to Russia.
Armenia decided to introduce certain changes in the agreement between the government of Russia and Armenia. The agreement stipulates for vesting some of Armenia’s property to Russia for the debt payment. As a result, Russia will get the Armenian company Mars, a Hydroelectric Power Station, Science of Materials Research Institute, Mathematical Machines Research Institute, and the Systematic Governing System Research Institute. In other words, the entire electronic and energetic industry of the Armenia republic has become a part of the electronic and energetic industry of Russia. It is up to Russia to decide, which oligarch will be in charge of those valuable objects. Armenia was informed about it immediately.
Russian Prime Minister Mikhail Kasyanov stated (after the agreement was signed with Armenia) that the fact of the property deal between Russia and Armenia was good both for the interests of Russia and the republic itself. Indeed, the mentioned companies and enterprises (as well as many others) are not operating in the republic at the moment. If they produce something, then they do not find a sales market for their production.
Russia will deal with the economic situation of the mentioned Armenian companies now. “We hope that the potential of the Armenian enterprises will be completely involved in the programs that are being implemented in Russia. We also think that those enterprises will be integrated in the industrial chain on the country,” Russian Prime Minister Kasyanov stated.
It goes without saying that integrating in the Russian economy is not like integrating in the American economy, for instance. The Unites States is way too far, but Russia is so close to Armenia. Russia has a certain kind of economy at present time, which can not be said about the republic of Armenia. To put it otherwise, the integration in the Russian economic system (or the retrieval of the integration level of the Soviet era, to be more precise), is Armenia’s only opportunity to survive and set up its own economy now.
Armenian Prime Minister Andranik Margaryan returned the favor. He informed the Russian premier that Armenian laws were rather favorable for investors. So, if Russia has a wish to invest in Armenia, then “we would render all kinds of support possible.”
The most pleasant thing about the whole issue is the fact that Armenia’s debt to Russia of 98 million dollars has been completely regulated now. The two countries may develop commercial and investment relations to their full capacity. Let us just hope that those relations are not going to be overshadowed. Those Russian and Armenian companies that owe something to each other are free to go to court and settle their problems down there. The laws of the two countries are rather suitable for this kind of litigation.
In addition to that, Armenia got Russia’s consent to develop its natural resources. Russia also supported the idea to guard the Armenian top secret information. To crown it all, Russian Prime Minister Kasyanov promised that Russia would deliver nuclear fuel to the Armenian Nuclear Power Plant. The latter will now operate at its full capacity.
It seems that Armenia gave a good example of constructive cooperation to other countries of the Commonwealth of Independent States. It would be good for Ukraine and Belarus to take Armenia’s debt experience into their consideration. They like getting Russian oil and gas at very cheap prices. However, neither Ukraine, nor Belarus are willing to give away some of their enterprises to Russia yet. Russia would promise to protect them for that; from international terrorists, for example.
Translated by Dmitry Sudakov
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