YEREVAN. – The ongoing talks between the Government of Armenia and Itera Company of Russia, and concerning Armenia’s Nairit rubber plant, are on the verge of failure, Haykakan Zhamanak daily reports.  

“The parties are not agreeing on the key issues. According to this information, the Russian party demands to zero Nairit’s debts and sell it to them as a company without any burden of obligation. For the Armenian party, however, this is not convenient for some reasons.        

The problem is that so many shady financial schemes are made with Nairit, this industrial giant was ‘milked’ so much for years that today no one can say how much is Nairit’s debt, whom does it owe, [and] how these debts have come to be,” Haykakan Zhamanak writes.