B. Letter from the Community

B. Letter from the Community

Sir,

Thank you for your letter of today's date which reads as follows:

"With reference to Article 52 of the Agreement on Partnership and Cooperation, I confirm that nothing in this Article shall be construed as restricting the transfer abroad by Community residents of investments made in Russia by Community residents, including any compensation payments arising from measures such as expropriation, nationalization or measures of equivalent effect and of any profit stemming therefrom.

I propose that this letter and your reply will establish a formal agreement between us."

I confirm that your letter and my reply establish a formal agreement between us.

Please accept, Sir, the assurance of my highest consideration.