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Business news, 01.06.2006 12:19

St Pete legislators OK ban on nighttime sales of hard liquor

alcohol_sales Russia's St. Petersburg legislative assembly has approved a bill that seeks to ban the retail sale of alcoholic beverages with an alcohol content above 15% from 11.00 p.m. till 7.00 a.m., the press service of the legislative assembly said Wednesday.

The law will come into force 10 days after the governor of St. Petersburg signs it.

The bill also stipulates that only companies with a charter capital of at least 500,000 rubles will be able to get a license for retail sales of alcohol. The price of the license will be 100,000 rubles, under the bill. Companies will be able to increase charter capitals before October 1 and to re-register their licenses in accordance with the new rules before April 1, 2007.

The government of the Moscow Region introduced a similar restriction on the nighttime sales of alcohol that becomes effective from July 1. (26.9840 rubles - U.S. $1)

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