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. Last Updated: 07/27/2016

Duma Panel Set to Probe Privatization

The State Duma on Wednesday set up a commission to look into the results of privatization in Russia and possibly annul some sell-offs if the commission rules they contradicted the law.


The seven-member commission, in which all Duma factions will be represented, was formed after the Duma's privatization committee chairman Pavel Bunich, of the Our Home Is Russia faction, called the sell-off situation in many industries "a nightmare."


Bunich's committee, as well as several others, is expected to closely cooperate with the new body and eventually contribute new members to it.


But the chamber will begin reviewing some sell-offs even before the commission has had a chance to begin working. On Friday, the Duma is scheduled to discuss the legality of last year's transfer of 38 percent of the giant Norilsk Nickel company to Uneximbank under the government's loans-for-shares program.