State Duma ratifies establishment of Eurasian Reinsurance Company

MOSCOW, May 16 (PRIME) -- The Russia parliament's lower house State Duma has ratified on Tuesday an agreement to establish Eurasian Reinsurance Company.

"The establishment of the company and the start of its operating activities are scheduled for 2023 and depend on whether all participant countries complete the ratification procedure," Deputy Finance Minister Timur Maksimov said during the State Duma session.

The company will service mutual and external trade deals of the Eurasian Economic Union states. Russia's participation in the capital of the organization will amount to 6.75 billion rubles in 2023–2025 to be paid from the federal budget.

(79.1004 rubles – U.S. $1)

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