ADVERTISEMENT

Italy to help Russia destroy chemical weapons

Recycling

Italy has pledged €360 million ($565 million) to help Russia destroy its stockpiles of chemical weapons by 2012, a Russian senator said on Wednesday.

Russia signed the Chemical Weapons Convention, which bans the development, production, stockpiling, transfer, and use of chemical arms in 1993 and ratified it in 1997. The country is to destroy all its declared arsenal of 40,000 metric tons of chemical weapons by 2012. Valentin Zavadnikov, chairman of the committee for industrial policy in the upper chamber of Russia’s parliament, said Italy will help build a facility in the Bryansk Region in western Russia for this purpose under a Russian-Italian inter-governmental agreement on cooperation in the destruction of chemical weapons in Russia, which was backed by his committee. “The document’s implementation will make it possible to reduce the federal budget’s burden, and improve the social and political situation in the town of Pochep in the Bryansk Region, where a facility for the destruction of chemical weapons is to be built, through the creation of new jobs and the engagement of Russian companies in work under contracts with Italy,” the senator said.

Western nations pledged at the 2002 Kananaskis G-8 summit to help Russia financially and technologically to destroy or convert its chemical weapons and production facilities as part of the Global Partnership, against the Proliferation of Weapons and Materials of Mass Destruction. By April 2007, Russia had destroyed 20% of its chemical weapons, or 8,000 metric tons. The country plans to bring the figure up to 45% by the end of 2009 and finish the process by 2012. (rian.ru) 

ADVERTISEMENT

Pressure increasing on CFOs - PwC survey Analysis

Pressure increasing on CFOs - PwC survey

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Capital sees urban exodus during pandemic City

Capital sees urban exodus during pandemic

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.