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. Last Updated: 07/27/2016

Italy Mulls Debt Swap

MOSCOW () -- Italian Foreign Trade Minister Augusto Fantozzi said Thursday that Italy was considering swapping some of Moscow's debt to Rome for shares in newly privatized Russian companies.

Fantozzi told a news conference that Italy could trade about one-third of Russia's $14 billion debt, stemming mainly from the Soviet era, for equity in companies. "Currently we are considering Russian legislation and looking into how this system can be implemented," he said.