FEDERATION COUNCIL APPROVES 1996 FEDERAL BUDGET

. The Federation Council on yesterday approved by a vote of 95-14 with three abstentions the 1996 federal budget that was adopted by the outgoing Duma on December 6. This is the first time the Russian parliament has passed a federal budget before the beginning of the new fiscal year. It is an important event because it deprives the incoming Duma of what might otherwise have been a quick and easy opportunity of derailing the anti-inflationary policies of the Chernomyrdin government. (13)

Federation Council Approves Law on Production-Sharing Agreements.