Capital Outflow May Hit $70 Bln Says Minister

File Photo of Cash, Coins, Line Graph

MOSCOW, November 20 (RIA Novosti) ­ Russia’s capital outflow may reach $70 billion in 2012, more than the previous forecast of $60-65 billion, Deputy Economic Development Minister Andrei Klepach said on Tuesday. “We’ll specify the figure by December. Perhaps, it will be slightly larger [than the Central Bank’s estimate of $67 billion] at $70 billion, or may be less” Klepach […]

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NEWSLINK: Three cheers for the Magnitsky Act and American values

Memorial Flowers and Photo of Sergei Magnitsky

(Three cheers for the Magnitsky Act and American values- AEIdeas – www.aei.org – Leon Aron – November 15, 2012 – Leon Aron is Resident Scholar and Director of Russian Studies at the American Enterprise Institute – http://www.aei-ideas.org/2012/11/three-cheers-for-the-magnitsky-act-and-american-values/) Leon Aron of the American Enterprise Institute addresses the Magnitsky Act legislation currently before Congress: In the next few days, the House and […]

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Putin Health Confusion Sparks Investor Concern

File Photo of Vladimir Putin at Desk

(Bloomberg – bloomberg.com – Henry Meyer and Jason Corcoran – November 16, 2012) Russian government reticence to discuss President Vladimir Putin’s health issues is adding to investor concern about the lack of transparency in a country that’s losing $80 billion a year in capital flight. The Russian leader canceled or postponed five foreign trips over more than a month, including […]

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NEWSLINK: Russia threatens tough response if U.S. back rights bill

Memorial Flowers and Photo of Sergei Magnitsky

(Russia threatens tough response if US back rights bill – Reuters – Steve Gutterman – November 15 – http://www.reuters.com/article/2012/11/15/russia-usa-idUSL5E8MFA6K20121115) Leading up to House consideration of Congressional legislation impacting trade relations with Russia, and sanctions over human rights issues, Reuters covers Russian warnings: Russia warned the United States on Thursday to expect a tough response if Congress passes “unfriendly and provocative” […]

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McFaul to Focus on Economic Ties

Ambassador Michael McFaul file photo

(Moscow Times – themoscowtimes.com – Jonathan Earle – November 8, 2012) “I got a little bit of sleep, but I was up pretty early,” U.S. Ambassador Michael McFaul said Wednesday afternoon, shortly after his boss, President Barack Obama, declared election victory. Fatigue at first appeared to blunt his characteristic cheerfulness, but as the conversation turned to what Obama’s second term […]

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Russian pundit says Magnitskiy list not to affect Russian-US ties

File Photo of U.S. Capitol Dome

(Interfax – Moscow, 5 November) Russia will not be able to prevent the adoption of the so called Magnitskiy list either in the USA or in Europe, deputy head of the USA and Canada Institute of the Russian Academy of Sciences Viktor Kremenyuk said. “The Magnitskiy list will certainly be adopted (in the USA – Interfax) and Europe will also […]

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Russian politicians, experts slam EU for passing Magnitskiy resolution

Memorial Flowers and Photo of Sergei Magnitsky

(Interfax – October 24, 2012)  The resolution on the Magnitskiy (Magnitsky) list passed by the European Parliament is “designed to undermine contacts between Russia and Europe”, Russian Interfax news agency reported on 24 October, quoting head of the State Duma International Affairs Committee Aleskey Pushkov. Politicians On 23 October the European lawmakers passed a resolution requiring the EU to draw […]

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TNK-BP Deal a Boon for State, Welcome Sign for Foreigners

Oil Well file photo

(Moscow Times – themoscowtimes.com – Anatoly Medetsky – October 23, 2012) Rosneft’s deal to take over TNK-BP masterfully achieves the dual purpose of strengthening the state’s hand in the oil industry to spectacular proportions and showcasing its benevolence to foreign capital at the same time. Officially confirmed Monday, the gradual $56 billion purchase of the country’s third-largest crude producer will […]

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Trial of Prison Warden Where Magnitsky Died to Continue in Moscow

Memorial Flowers and Photo of Sergei Magnitsky

MOSCOW. Oct 16 (Interfax) – Moscow’s Tverskoi Court on Tuesday will continue hearings of the criminal case against a former deputy head of Butyrka prison, Dmitry Kratov, who is the only suspect thus far to have been accused of negligence leading to Hermitage Capital lawyer Sergei Magnitsky’s death. Evidence is expected to be provided by investigator Oleg Silchenko, who probed […]

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Russian Business Climate, Corruption Hold Back Rating, S&P Says

File Photo of Two Persons Shaking Hands and Exchanging Cash

(Bloomberg – bloomberg.com – Scott Rose – October 16, 2012) Russia needs a better business climate to bolster economic growth and win an upgrade of its investment-grade credit rating, according to Standard & Poor’s. The government must deal with “structural impediments” to growth by fighting corruption, scaling back the state’s role in the economy and improving the judiciary, while moving […]

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Capital Outflow From Russia Will Save Economy From Overheat – Moiseyev

File Photo of Cash, Coins, Line Graph

TOKYO. Oct 12 (Interfax) – The capital outflow to which Russia has fallen victim over the last several months will protect the country’s economy from a possible overheat, Russian Deputy Finance Minister Alexei Moiseyev said in conversation with the press on the sidelines of the annual meeting of the International Monetary Fund (IMF) and the World Bank in Tokyo. “My […]

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NEWSLINK: Russia expects tax reforms to boost oil output

Oil Well file photo

Russia expects tax reforms to boost oil output – Reuters – October 9, 2012 – click here for original article: http://www.reuters.com/article/2012/10/09/russia-energy-idUSL6E8L9PU620121009 Reuters covers Russian aspirations to expand oil output through tax breaks: Russia aims to bring on line 1.4 million to 2 million barrels of oil equivalent per day with new tax reforms designed to reduce the levy on future […]

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Zuckerberg Visit Sparks Brain-Drain Debate in Russia

File Photo of Mark Zuckerberg Gesturing

Bloomberg – bloomberg.com – Leonid Bershidsky – October 3, 2012 – Leonid Bershidsky, an editor and novelist, is Moscow and Kiev correspondent for World View. For Prime Minister Dmitri Medvedev, Facebook CEO Mark Zuckerberg’s visit to Moscow was a great photo opportunity. Some of Russia’s technology entrepreneurs, though, saw it as the latest salvo in a global battle for the […]

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The Tao of Mark Zuckerberg

File Photo of Mark Zuckerberg Gesturing

RIA Novosti – Natalia Antonova – October 1, 2012 Natalia Antonova is the deputy editor of The Moscow News. I never thought that there would come a day when I would unabashedly cheer on Mark Zuckerberg. After all, even among hardcore Facebook users such as myself, it is much more fashionable to poke fun at the guy, gently or otherwise. […]

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Russian Deputy Finance Minister Denies Abnormal Capital Flight From Country

File Photo of Cash, Coins, Line Graph

(Interfax – Bishkek, 20 September) The leadership of the (Russian) Ministry of Finance is sceptical about pessimistic takes and forecasts on the outflow of capital from Russia and believes that there are no grounds for this – that this is ordinary banking practice. “I see no indication of there being a withdrawal of funds from Russia. What people are calling […]

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Bureaucrats Smile in Special Economic Zone

Cash, Calculator, Pen

By Anatoly Medetsky –  Moscow Times – September 17, 2012 – JRL 2012-165 Even customs officers received praise Monday when foreign investors heaped accolades on the Alabuga special economic zone. In terms of attracted investment, Alabuga, in Tatarstan’s Yelabuga region, is the biggest of the 16 zones in the country where the federal government and regional counterparts have created favorable […]

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Michael Launer: “Re: Doing Business in Russia”

Message Flow Charts file image, adapted from image at asc.army.mil

Date: Sun, 10 Oct 1999 From: “Michael Launer” <mklauner@russtechinc.com> Subject: Re doing business in Russia My wife, Marilyn Young, is a subscriber to The Johnson List. Some time ago she printed out a number of messages regarding the perils of doing business in Russia. The attached message is a response to one of those messages that dealt with interpreters. I […]

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