New agency to be set up in Russia

Russia is planning to set up an agency for the procurement of weapons and other military and security-related goods. The new body will be formed by early next year.

It will be in charge of placing and overseeing military contracts worth of billions of dollars.

The agency will report directly to the government and is aimed at fighting corruption in the defense ministry.

Prime Minister Mikhail Fradkov said the new agency signals the start of a restructuring in the government.