The collection already comprises Vassily Kandinsky's Composition No. 6, Henri Matiss's Dance and Music and Pablo Picasso's The Three Graces. As the Hermitage's Director Mikhail Piotrovsky said at a press conference in Moscow today, the Black Square would be placed right opposite Composition No. 6. The decision to sell the painting to the State was taken at the Incomebank creditors' meeting yesterday. The transaction is worth million.

A while ago the Ministry of Culture had asked Incomebank to withdraw the painting from open auctions insisting on the State's priority right to buy historical and cultural monuments. The money for the painting had been put up by Interros's Director Vladimir Potanin. According to Mikhail Piotrovsky, the paining is in perfect order and is not scheduled for any expositions abroad in the near future. It will be formally inaugurated in the Hermitage in June this year.

News source: Rosbalt
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