Premier. The Russian-dominated COMSE was quickly surpassed in authority by the Inter-republican Economic Committee (IEC), which was better thought to work between the different member republics, as its function was to coordinate economic policy across the Soviet Union, and was created by law on 5 September, but members were not immediately selected. Silayev finally also became IEC's chairman on 20 September (while other members were different from COMSE), formally strengthening his position in the union, but he presided over a quickly disintegrating Soviet Union and was dismissed as Russian Premier only a few days later. Further disintegration of the USSR, with several republics becoming independent states, led to the transformation of the IEC into the on 14 November, which was to coordinate relations between the union republics and the republics that seceded from the USSR. Silayev remained Chairman of the new IEC and was considered "Prime Minister of the Economic Community", although the office and the community had no future, with the dissolution of the Soviet Union coming only weeks later. When he first took office, holding the Russian premiership under Boris Yeltsin at the same time, Silayev had wanted to reduce the powers of the central government and give more powers to the Soviet Republics. As he, however, saw Yeltsin's rapid actions to undermine the institutions of the Soviet Union, his view changed and he demanded that Yeltsin give back much of the authority of the central government which he had usurped following the August Coup. In this he failed, and his position as Russian SFSR Premier was severely weakened as a result, with him being replaced only a month after his accession to the Soviet premiership. Oleg Lobov, Silayev's First Deputy Premier, led the anti-Silayev faction in the Russian SFSR Council of Ministers and managed to oust him on 26 September 1991; Lobov succeeded him as acting Premier of the Russian SFSR. Silayev, as overseer of the economy, was given the task of initiating economic reforms in the Soviet Union in a way that suited both the central government and the Soviet republics. Silayev tried to maintain an integrated economy while initiating the marketisation of the economy. On 19 December 1991, Yeltsin declared the COMSE committee, which served as the Soviet Union's last government, dissolved, and Silayev retired from his post, one day after he had been appointed to his new position as a diplomat for Russia. The