Putin signs decree on mechanism for accelerated sale of federal property through PSB for defense purposes

MOSCOW. Sept 30 (Interfax) - Russian President Vladimir Putin has signed a decree introducing a mechanism for the accelerated sale of federal property by decision of the head of state for the purposes of ensuring the country's security and defense capability.

According to the decree of September 30 on some features of the sale of property in federal ownership, in such cases, the determination of the market value of the property being sold and the preparation of the appraisal report will be carried out within a period not exceeding ten days from the conclusion of the relevant contract. A special, accelerated procedure for state registration, recording and transfer of rights to federal property will also be applied.

The role of seller in such transactions will be undertaken by the core bank of the defense industry, PSB.