By Atom Markarian
The government on Thursday formally approved the list of five state-run enterprises that will be transferred to Russian control in payment for Armenia’s $94 million debt to Russia.
Details of the assets-for-debt were tentatively agreed by the two governments last December following months of negotiation. The deal encompasses Armenia’s largest thermal power plant located in the central town of Hrazdan, an electronics factory in Yerevan and three research institutes that used to work for the Soviet defense industry.
A government statement said ministers endorsed the list of the enterprises without making any changes. But there was no word about whether Russia will write off the entire debt or just part of it in exchange for getting the Armenian assets.
Russian government experts have been engaged in the valuation of the property since the beginning of the year. But there have been no indications yet on when Moscow and Yerevan plan to sign the deal.