Timelines |

Timeline for Russia

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1991

March:

• Law on Competition and Restriction of Monopolistic Activities promulgated

December:

• Russia defaults on its international debt
• Presidential decree on price liberalization promulgated.

1992

January:

• Foreign trade was liberalized

June:

• Supreme Soviet adopted Chubais' privatzation program.

July:

• Ruble made convertible on current account

1993

April:

• Referendum

May:

• Gasoline prices liberalized
• "Law on Grain" was promulgated

July:

• Coal prices liberalized

September:

• Dissolution of paliament.

December:

• Law on Grain was effectively revoked
• Right of private ownership of land granted by decree.
• Parliamentary elections held
• New Constitution adopted

1994

March:

• Government adopted "Program for Demonopolization of the Economy and the Development of Competiton".