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. Last Updated: 07/27/2016

Regions Seek Shares

Russian regions, owed trillions of rubles by the federal government, are interested in taking state-owned shares in privatized companies in settlement, a senior privatization official said Tuesday.

Alfred Kokh, first deputy chairman of the State Property Committee, told regional committee officials that several regions had already expressed willingness to accept shares to pay off debts.

He said the Krasnoyarsk region was interested in taking 40 percent of the Krasnoyarsky Metallurgichesky Zavod metalworks in payment of 100 billion rubles ($21 million) of debt.

A resolution authorizing the state to transfer shares to the regions is awaiting the prime minister's signature.

Viktor Chernomyrdin's signature, Kokh said.

He said shares in any company, except those of strategic importance for national security, would be eligible for inclusion in the program.

The Sverdlovsk region was interested in shares of a group of local aluminum companies to settle a similar sum.