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. Last Updated: 07/27/2016

Russia Races to Register Cyrillic Domain Names

Anyone with a large vocabulary and a little imagination now has a chance to make a lot of money on the Internet.

Since Monday evening, it has been possible to register domain names in the zones dot.com, dot.net and dot.org in Cyrillic script. Those who register the most "practical" Cyrillic names first, will have the chance to sell them very profitably later on.

At 4 p.m. Monday, the largest international registrar company, Network Solutions, owned by U.S. corporation VeriSign, announced the completion of the most radical reform in the history of the Internet: the establishment of a registration service of domain names in 70 additional, mostly European languages.

Internet users will now be able to choose web site and e-mail addresses that use special letters, accents and marks particular to Western European languages such as French, German and Spanish, to supplement the standard Roman letters and numbers currently used, Reuters reported.

The majority of the simple or "intuitive" names are still available. That was not the case with domain names in English.

For example, the right to the domain name www.business.com was sold for $7 million.

RosBusinessConsulting is the Russian dealer for Network Solutions.

The agency immediately announced the launching of the registration of domain names in Cyrillic. For now it is possible only to register names. Not all of the infrastructure has been installed and the "national" domain names can be used only within two to three months, representatives of Network Solutions said.

Kira Litvina, a public relations consultant for the Russian Institute for Public Networks, said her company is working on the introduction of Cyrillic domains in the dot.ru zone. But the initiative of RosBusinessConsulting has not compelled them to hurry.

"We are studying the matter more closely, not only from the technical side, there are political issues here," Litvina said. "Moreover, we want to open a full-fledged service, not just lay claim to names."

Interested companies are already grabbing up domain names. One representative of the company Arbitrazhsudpravo, busy with the task of acquiring domain names for the purpose of selling them later in the dot.ru zone, found a couple of seconds to grant an interview late Monday.

"We are really hurrying, we need to send out applications. The whole night is before us," he said.