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Anatoly Chubais, the head of Russia's electricity monopoly that will cease
Anatoly Chubais, the head of Russia's electricity monopoly that will cease to exist as of July 1, will help draft a new Russia-EU treaty, the Russian Union of Industrialists and Entrepreneurs said on Tuesday.

The Russian power sector has undergone radical changes in recent years aimed at increasing the efficiency of power plants and developing the industry by attracting investment. During the restructuring process, specialized structures have been created in place of the old vertically integrated companies.

Chubais will head a non-profit partnership, which the Russian Union of Industrialists and Entrepreneurs will set up, to develop the position of domestic business to the new Russia-EU partnership and cooperation pact, the union's president, Alexander Shokhin said.

Chubais who is a member of the union's board has already been assigned the task of developing economic ties with the European Union.

"Chubais will be charged with the responsible mission of preparing a new treaty between Russia and the European Union," Shokhin said.

The new long-term strategic Russia-EU treaty is set to replace the current 1997 Partnership and Cooperation Agreement, which expired in December 2007 and was extended by a year. Russia and the EU earlier said they hoped to reach a new deal by the end of 2008. The old agreement will remain in force until a new version replaces it.


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