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Press release, 26.04.2000


Yabloko draws attention to the illegitimate nature of transactions with the foreign debt of the USSR

On April 26 the State Duma rejected the resolution prepared by the Yabloko faction on the negotiations of the RF Government with the London Club on restructuring and eliminating part of the Soviet debt;

120 deputies voted "for", 121 deputy "against" and 2 abstained.

"The essence of the Resolution was to point out to creditors to that the law on the Russian budget still does not envisage any changes resulting from the concluded restructuring agreements," said Sergei Ivanenko, one of the authors of this resolution and Deputy Head of the Yabloko faction. "Until the corresponding law is adopted, all the transactions with USSR securities will not be absolutely legitimate," said Sergei Ivanenko.

According to the law on the Russian budget, the limit of the state foreign debt is determined by the law on the state budget. Russia's official foreign debt was approved two years ago by the law on the budget for 1998 and amounts to USD140.6 billion.

The budget for 2000 does not indicate the amount of Russia's debt today. This discrepancy in the law should be resolved as soon as possible and the planned restructuring of the USSR foreign debt should be reflected in the Federal Law "On the Federal Budget for 2000", said Alexei Mikhailov (from the Yabloko faction), member of the Committee for the Budget and Taxes of the State Duma.

"We would like to remind the Government that corresponding amendments should be made to the Federal Law."

"The refusal of the Duma to approve our Resolution demonstrates the lack of understanding of the newly elected deputies that it is necessary to obey the law," said Sergei Ivanenko.