YEREVAN. – The Government of Armenia on Wednesday adopted a decision, whereby several premises will be transferred over to Russia free of charge. This business deal is specified by the intergovernmental agreement—signed on October 24, 2011—on real estate exchange for diplomatic representations.

In return, Armenia will receive its Moscow Embassy building and land as property. But according to Deputy FM Shavarsh Kocharyan, since Russian legislation does not permit the alienation of property, Armenia will receive the given area for a symbolic amount and a 100-year right to use.  And in return, the Russian Embassy will be allocated its adjoining 300-m3 land.      

Also, a building will be purchased for the Russian Consulate in Gyumri city. In addition, the three-hectare Aghveran Recreation Base—which until then was given to the Russian Embassy for a 49-year free use—will be allotted to Russia. 

And a one-hectare land will be set aside, in a Yerevan suburb, for the construction of the Russian ambassador’s residence.