President Vladimir Putin has given instructions to liquidate FSUE RIA Novosti international news agency and set up FSUE Russia Today international news agency.

A relevant decree entitled "On certain measures to raise the effectiveness of the operations of state-owned mass media" is posted on the presidential website.

In line with the decree, as of the moment of the liquidation of RIA Novosti, the rights of its founder will be transferred to Russia Today agency.

Pursuant to the decree, the news agency will manage the property, including foreign property, used by RIA Novosti for reporting Russian government policies and Russian public life abroad.

Russia Today news agency will have its headquarters at 4 Zubovsky Boulevard in Moscow.

The core business of Russia Today will be "the coverage of Russian state policy and public life in the Russian Federation" for foreign audiences, the decree says.

The same decree liquidates Voice of Russia state-owned broadcasting corporation. Its property will be placed under the management of Russia Today news agency.

Dmitry Kiselyov was appointed General Director of Russia Today news agency.

The reorganization of RIA Novosti and some other state-run media outlets aims at their cost-effectiveness and efficiency, Presidential Administration Head Sergei Ivanov told reporters on Monday.

"The decree has two main purposes," he said.

The first task is to ensure "the more rational use of budget money allotted to state-run information resources," he said.

"This is the question of reducing [the funds needed] rather than their enlargement," he stressed, adding that budget spending on that sphere of activity was already cut for next year.

The second task "is to improve the efficiency of operations of the state-run media," he said.

"Russia is holding an independent policy and unwaveringly protects its national interests. It is not easy to explain that to the world, but it can and must be done. We have achieved certain successes in this field and, on the other hand, have had some problems. I am confident we can overcome them," Ivanov said.

"We must tell the truth, make it accessible to the most people possible and use modern language and the best available technologies in doing so," said the Kremlin administration head.

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