Category: Economy, Business, Investment, Trade

Inflation, corruption catching up with public utilities on Russian top problems’ list – poll

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade
Electrical Yard file photo

(Interfax – MOSCOW, July 11, 2013) Housing and public utilities remain the biggest concern for Russians (55%) although the problem’s acuteness has been alleviated in recent months, the Russian Public Opinion Study Center (VTsIOM) said. The second biggest problem is inflation (47%) and low living standards rank third (46%). Corruption and bureaucracy (44%) and healthcare problems (43%) follow. The other […]

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Rights commissioner denounces Magnitsky’s postmortem conviction

Assassinations, Beatings, Threats, Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Memorial Flowers and Photo of Sergei Magnitsky

(Interfax – MOSCOW, July 11, 2013) Russian Human Rights Commissioner Vladimir Lukin has denounced the postmortem conviction of late Hermitage Capital auditor Sergei Magnitsky by Moscow’s Tverskoi Court. “I object to trying people post mortem. There is an element of some ancient pagan mentality in this,” Lukin told Interfax on Thursday. “Then let’s arrange the trial of Ivan the Terrible […]

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Hermitage Capital blasts Magnitsky’s posthumous conviction

Assassinations, Beatings, Threats, Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Human Rights, Politics, Government, Protests, Elections
Memorial Flowers and Photo of Sergei Magnitsky

(Interfax – MOSCOW, July 11, 2013) British investment fund Hermitage Capital has attacked Thursday’s posthumous conviction of its lawyer Sergei Magnitsky and in absentia conviction of its chief executive William Browder. “This trial reflects the authorities’ disrespect for fundamental international legal values and personal rights and freedoms,” Hermitage said in a statement made available to Interfax. Moscow’s Tverskoi Court convicted […]

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Russia’s Medvedev hopes Obama, Biden visits will boost economic ties

Economy, Business, Investment, Trade, United States, U.S.-Russian Relations
File Photo of Barack Hussein Obama and Dmitry Medvedev with Flags, Shaking Hands

(Interfax – July 11, 2013) Russian Prime Minister Dmitriy Medvedev has said he hopes the upcoming visits of US President Barack Obama and US Vice-President Joe Biden to Russia will strengthen Russian-US economic ties. He was speaking at the Innoprom industrial trade fair in Yekaterinburg on 11 July, as reported by Russian privately-owned Interfax news agency. “I hope that the […]

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Rotenberg denies his friend Putin helps him run his business

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
File Photo of Cash, Coins, Line Graph

(Interfax – MOSCOW, July 10, 2013) Russian oligarch Arkady Rotenberg has denied that Russian President Vladimir Putin, who he has known for a long time, helps him solve his business problems. “Vladimir Vladimirovich and I started training in sambo wrestling when I was a little over 13 and he a little over 12. Our acquaintance goes back to that time, […]

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Russia will not see significant change in tax system in next three yrs – Medvedev

Budget, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Cash, Calculator, Pen

(Interfax – MOSCOW, July 10, 2013) Russia will not see any significant changes in its tax system within the next three years, Russian Prime Minister Dmitry Medvedev said at a meeting with members of the Russian Union of Industrialists and Entrepreneurs (RUIE) board. The government has endorsed the principal areas of its tax policy development for 2014-2016, he said. “No […]

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Nabiullina Seen Holding Russia Rates as Inflation Limits Options

Economy, Business, Investment, Trade
Elvira Nabiullina file photo

(Bloomberg – bloomberg.com – Scott Rose & Olga Tanas – July 10, 2013) Elvira Nabiullina will probably kick off her tenure as Russia’s monetary policy chief by holding rates as inflation remains above target, which her predecessor blamed for the lack of monetary easing the past nine months. The central bank will leave the refinancing rate at 8.25 percent at […]

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For $50 Million You Too Can Enter Putin Moscow Playhouse

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Vladimir Putin file photo

(Bloomberg – bloomberg.com – Stepan Kravchenko, Evgenia Pismennaya & Irina Reznik – July 10, 2013) Josef Stalin built a massive luxury apartment compound across the river from the Kremlin to both reward and spy on his closest comrades. The one Vladimir Putin built for his clique is smaller and harder to find. Tucked among a warren of Soviet-era structures about […]

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Medvedev calls on business to work more closely with government

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Dmitry Medvedev file photo

(Interfax – MOSCOW, July 10, 2013) Russian Prime Minister Dmitry Medvedev has called on Russian business to more closely work with the government in conditions of a complex economic situation in the country and changes in the world model for economic growth. “For the state and for business it is important not to waste time and to act in conjunction, […]

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Rising Financial Literacy among Russians is a State Priority

Economy, Business, Investment, Trade
Cash, Calculator, Pen

(Moscow Times – themoscowtimes.com – Irina Filatova – July 10, 2013) The name Lyonya Golubkov is well-known to many Russians from the 1990s television advertising campaign that encouraged millions of people to put their money into MMM, a vast financial pyramid whose subsequent collapse caused devastating losses. Choosing investment instruments is still a problem for most Russians as the financial […]

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Russian privatisation programme in complete disarray

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Empty Boardroom

(Business New Europe – bne.eu – July 10, 2013) Russia’s privatisation programme fell into complete disarray on July 9 after the state-owned shipping giant Sovcomflot announced it would float a 25% stake on the New York Stock Exchange later this year. The decision to launch an IPO on the US exchange comes only a few months after Russian President Vladimir […]

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Russian ruble not in danger of ‘almighty devaluation’ – expert

Economy, Business, Investment, Trade
File Photo of Cash, Coins, Line Graph

(Interfax – MOSCOW, July 9, 2013) The Russian ruble is not in danger of any “almighty devaluation” and Russian citizens have no reason to begin buying large amounts of foreign currency, Ruslan Grinberg, director of the Russian Academy of Sciences’ Economics Institute, said. “Our world is sinking into total uncertainty. It is a guarantee for high oil prices. In this […]

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Some 10,000 White-Collar Criminals to Qualify for Amnesty

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade
Russian Jail File Photo Showing Outer Wall, Windows, Barbed Wire

(RIA Novosti – NOVO-OGARYOVO, July 9, 2013) ­ Up to 10,000 first-time violators of financial laws should qualify for amnesty, Russia’s chief prosecutor said Tuesday. “A very large number of businesspeople” have been exempted from criminal liability or given milder penalties, or released from custody, as part of the “humanizing” legislation, Prosecutor General Yury Chaika told President Vladimir Putin. It […]

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Russia puts spending on guns ahead schools

Budget, Economy, Business, Investment, Trade, Education, Academia, Health, Epidemics, Substance Abuse, Military, Politics, Government, Protests, Elections
File Photo of Russian Tanks in Military Parade

(Business New Europe – bne.eu – MOSCOW BLOG – July 9, 2013) The Russian government has just approved the next three-year budget that runs to 2016 that has cut spending on education and health in favour of boosting it on reequipping the armed forces. Relations between Russia and the west are probably at their lowest ebb since the fall of […]

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Architectural Preservation’s Politics

Economy, Business, Investment, Trade, History, Soviet Union, Life in Russia, Culture, Arts, Politics, Government, Protests, Elections
Aerial View of Moscow From Beyond Stadium, file photo

(Moscow Times – themoscowtimes.com – Delphine d’Amora – July 9, 2013) The battle over the preservation of Moscow’s architectural heritage has become visibly political in recent weeks, as prominent opposition parties criticized acting mayor Sergei Sobyanin’s policies. Several candidates have promised to address the issue in the run-up to this September’s mayoral race. The primary catalyst in the debate has […]

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Navalny’s day in court: politics and protection

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
File Photo of Alexei Navalny Being Grabbed by Police at Protest

(Moscow News – Anna Arutunyan, Editor & Correspondent at themoscownews.com – July 8, 2013) With the verdict in opposition leader Alexei Navalny’s trial scheduled for July 18, the bets are on: will he get six years in jail like the prosecutors asked? Or a suspended sentence? What’s interesting about this question is that the answer has very little to do […]

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Gordeyeva and Russian emigrants: Brave Sir Robins?

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Kremlin and St. Basil's

(Moscow News – themoscownews.com – Natalia Antonova, Acting Editor-in-Chief – July 8, 2013) Journalist Katerina Gordeyeva’s recent Colta.ru essay, “The impossibility of an island,” has caused quite a stir among Russian intellectuals. In the essay, Gordeyeva spoke about letting go of the illusion that Russia’s progressive middle class can live on its own special island, separate from reality. She urged […]

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Love more important than career for most Russians – poll

Economy, Business, Investment, Trade, Life in Russia, Culture, Arts
File Photo of Crowd of Russians with One Waving Russian Flag

(Interfax – MOSCOW. July 6, 2013) Mutual and happy love contributes to career growth, in the view of 62% of Russians interviewed by the www.superjob.ru web portal in the run-up to Day of Family, Love and Faithfulness. At the same time, 10% of those polled believe these feelings only obstruct career growth and 16% do not see any relation between […]

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First businessmen to be released under amnesty in several days

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade
Russian Jail File Photo Showing Outer Wall, Windows, Barbed Wire

(Interfax – MOSCOW. July 3, 2013) Convicts eligible for the economic amnesty, which comes into effect on July 4, will be released in several days because the procedure of releasing convicts under amnesty is held in several stages, spokesperson of the Russian Federal Penitentiary Service Kristina Belousova said. “From the day the amnesty comes into effect, head of a correction […]

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Golikova Odds-on to Head Audit Chamber

Budget, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Kremlin and St. Basil's

(Moscow Times – themoscowtimes.com – July 5, 2013) Former Health and Social Development Minister Tatyana Golikova could be appointed head of the Audit Chamber as early as Friday by President Vladimir Putin, several government sources said, Vedomosti reported Thursday. Golikova, currently a presidential aide, was tipped to replace Sergei Stepashin as soon as a new law prescribing the re-election of […]

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World Bank and IMF added Russia to the list of rich countries

Economy, Business, Investment, Trade
File Photo of Cash, Coins, Line Graph

(Business New Europe – bne.eu – July 5, 2013) World Bank and IMF upgraded Russia’s position in national income rating. World Bank has ranked the country 72nd in its gross national income (GNI) per capita rating. Now Russia classifies as a country with a high income level, as follows from the organization’s statement. “The major change for 2013 classification (FY14) […]

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Medvedev Says He’s Pleased to Learn Future Pension Size

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections, Population Disaster, Demographics
Two Babushkas file photo

(RIA Novosti – BLAGOVESHCHENSK, Bashkiria, July 3, 2013) ­ As Russian officials put the finishing touches on a new pension plan that would peg Russian citizens’ retirement money to their labor record and wages, Prime Minister Dmitry Medvedev said Wednesday that he was pleased to learn his future pension size was more than $2,000 a month. Medvedev calculated his future […]

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Putin: Defense programs must not be heavy burden on economy, social sector

Budget, Economy, Business, Investment, Trade, Military, Politics, Government, Protests, Elections
Russian Nuclear Submarine file photo

(Interfax – MOSCOW, July 5, 2013) The development of Russia’s armed forces should not deprive the national economy and public sector of financial resources, Russian President Vladimir Putin said. “The defense programs should be reasonable and should not be a heavy burden on the country’s economy and public sector,” Putin said at a Russian Security Council meeting dealing with the […]

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Trans-Siberian Railroad Getting New Lease on Life

Economy, Business, Investment, Trade, Far East, Siberia, APEC, Transportation
Polar Map of Major Rail Lines in Russia, Canada and United States, With Hypothetical Additional Route Drawn In Connecting Them Across Bering Strait

(Moscow Times – themoscowtimes.com – Alexander Panin – July 5, 2013) David Bowie, Paulo Coelho and Alexander Solzhenitsyn are very different in life and in art, but they have one thing in common. They all traveled on the Trans-Siberian Railroad ­ the iron artery that has brought freight and passengers across the country since it was first completed in 1916. […]

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Putin: Russia needs measures to restart economic growth

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
File Photo of Cash, Coins, Line Graph

(Interfax – NOVO-OGARYOVO, near Moscow, July 4, 2013) President Vladimir Putin on Thursday insisted on urgent measures to restart Russia’s stalled economic growth. “Let me stress that the situation in the economy is such that we can’t wait, and spending time on the constant coordination of positions between agencies is also counterproductive. We should act, move forward, make balanced systemic […]

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Putin Calls on Moscow Airports to Reveal Owners’ Identities

Aviation, Drones, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Kremlin and St. Basil's

(RIA Novosti – MOSCOW, July 3, 2013) ­ All Moscow airports must disclose their beneficiary owners as part of a plan to create a unified aviation hub for the capital, Russian President Vladimir Putin said Wednesday, in a move that appears to put pressure on Domodedovo airport whose beneficiary owners have refused to reveal themselves. “It is essential that all […]

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Lawyer of Magnitsky’s relatives says trial of deceased auditor illegal

Assassinations, Beatings, Threats, Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Human Rights, Politics, Government, Protests, Elections
Memorial Flowers and Photo of Sergei Magnitsky

(Interfax – MOSCOW,. July 3, 2013) The defense team of Hermitage Capital’s auditor Sergei Magnitsky, who died in a detention facility, said that a guilty verdict within the framework of the trial in absentia of Magnitsky was needed to justify his death. “The trial is needed just for this – to tell the entire world – here, look, the court […]

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Business Amnesty Bill Approved

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade
Russian Jail File Photo Showing Outer Wall, Windows, Barbed Wire

(Moscow Times – themoscowtimes.com – Alexander Bratersky – July 3, 2013) The State Duma on Tuesday passed in the third and final reading the long-awaited economic crimes amnesty bill, which will free several thousand businessmen from the nation’s prisons. But despite the fact that the legislation was supported by all of the Duma parties when it was being prepared, only […]

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Ombudsman Lukin welcomes economic amnesty, says too early to evaluate it

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Human Rights
Vladimir Lukin file photo

(Interfax – MOSCOW, July 2, 2013) Russian human rights commissioner Vladimir Lukin said he expected the economic amnesty, declared by the Russian State Duma on Tuesday, to have positive effect. “Any amnesty of not very serious criminals is a positive deed. I welcome this amnesty,” Lukin told Interfax on Tuesday. “Arguments on how wide and deep the amnesty is are […]

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Human rights activist Alexeyeva skeptical of declared economical amnesty

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Human Rights
Lyudmila Alekseyeva file photo

(Interfax – MOSCOW, July 2, 2013) Russia’s oldest human rights activist, head of the Moscow Helsinki Group Lyudmila Alexeyeva said she criticized the economic amnesty declared by the Russian State Duma on Tuesday. “The obligation to repay damages undercuts this entire amnesty. This is a fly in the ointment,” Alexeyeva told Interfax on Tuesday. “If a person indeed did steal, […]

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Moscow business conference explores competitiveness

Economy, Business, Investment, Trade
Empty Boardroom

(Moscow News – themoscownews.com – Maria Stambler- June 28, 2013) Few doubts exist as to what needs to rank high on Russia’s economic agenda: growth and competitiveness in a healthy and transparent business climate. The ongoing discussions in the government and the business community revolve around how to achieve them. At the annual economic forum in St. Petersburg on June […]

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Russian regulator proves first case of insider trading

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade
File Photo of Man Placing Stack of Large Bills into Inside Pocket of Suitcoat

(Interfax – MOSCOW, July 2, 2013) The Federal Financial Markets Service (FFMS) has for the first time proven a case of insider trading on the Russian market, the head of the regulator, Dmitry Pankin said on his official blog. The case concerns transactions with shares in cosmetics firm Kalina (RTS: KLNA) in the fall of 2011, ahead of the announcement […]

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WTO entry disappoints, but Russia stays attractive

Economy, Business, Investment, Trade
File Photo of Outdoor Electronic Sign with Russian Exchange Data

(Russia Beyond the Headlines – rbth.ru – Regina Sadykova, special to RBTH – June 28, 2013) By comparison with other European countries, Russia remains attractive as a business and investment destination. The Association of European Business (AEB) in Russia has presented the results of its annual research project ­ “Strategies and Perspectives of European Companies in Russia”­carried out in conjunction […]

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Anti-money-laundering plan to increase Rosfinmonitoring’s role – Transparency International

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Hands Opening Envelope Containing Cash

(Interfax – MOSCOW, June 27, 2013) Yelena Panfilova, the head of the Russian office of Transparency International, sees President Vladimir Putin’s statement on plans to draw up a national anti-money-laundering plan as a sign of strengthening the Financial Monitoring Agency’s (Rosfinmonitoring) functions. “I believed that Rosfinmonitoring had been the one responsible for answering these problems all these years. Rosfinmonitoring does […]

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Over quarter of Russians convinced nothing can be achieved with strikes – poll

Economy, Business, Investment, Trade
Kremlin and St. Basil's

(Interfax – MOSCOW, June 27, 2013) The faith of Russian citizens in the efficiency of going on strike has decreased – the number of those considering strikes as the only way to resolve issues has gone down in the past years, while the number of skeptics grew considerably, a poll showed. In 1989 17% respondents considered strikes to be the […]

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Lobbying hampering privatization in Russia – Medvedev

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections, Population Disaster, Demographics
Empty Boardroom

MOSCOW. June 27 (Interfax) – The chronic non-fulfillment of privatization plans in Russia is related not just to the market situation but to lobbying also, Russian Prime Minister Dmitry Medvedev said at Thursday’s Cabinet meeting, which discussed a truncated version of the privatization program. “Let’s be honest, this also has something to do with the energy of lobbying by selected […]

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The disappearing entrepreneur

Economy, Business, Investment, Trade
Cash, Calculator, Pen

(opendemocracy.net – Mikhail Loginov – June 27, 2013) Mikhail Loginov is a journalist and novelist based in St Petersburg. He is the author of the recently published bestselling political thriller “Battle for Kremlin”. Russia’s small businesses are officially disappearing. Perestroika was supposed to give everyone the chance to be his own boss. Things, however, turned out rather differently.  Mikhail Loginov […]

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Jailed businessmen await amnesty or pardon?

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Russian Jail File Photo Showing Outer Wall, Windows, Barbed Wire

(Russia Beyond the Headlines – rbth.ru – Marina Obrazkova, special to RBTH – June 26, 2013) The Russian president’s unexpected initiative may set back preparation of the law. The economic amnesty decree is almost ready, according to members of the lower house of Russia’s Federal Assembly. The State Duma deputies hope to get the bill passed by July 5. Yet, […]

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State to Keep Rosneft and RusHydro in New Privatization Plan

Economy, Business, Investment, Trade, Oil, Gas, Energy, Politics, Government, Protests, Elections
Alexei Ulyukayev file photo

(RIA Novosti – MOSCOW, June 27, 2013) ­ Russian oil giant Rosneft, hydropower holding company RusHydro and the nation’s second-largest lender VTB Bank are among assets that should stay under state control, Economics Minister Alexei Ulyukayev said on Thursday after presenting the government’s new privatization plan for 2014-2016. “Proceeding from the current state of world markets and problems with the […]

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Russia Scales Down Asset Sales as Medvedev Bemoans Delays

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Empty Boardroom

(Bloomberg – bloomberg.com – Scott Rose & Olga Tanas – June 27, 2013) Russia will raise a third less than previously estimated from asset sales in the next three years, downsizing the program as Prime Minister Dmitry Medvedev criticized the lobbying that’s putting a brake on plans. Revenue from asset sales will bring the budget about 630 billion rubles ($19 […]

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Moscow Blog: The Kremlin’s PR incompetence

Economy, Business, Investment, Trade, Europe, EU, Foreign Policy, Security, Visas
File Photo of St. Petersburg Economy Forum Outdoor Banners and Building Facade

(Business New Europe – bne.eu – Ben Aris – June 26, 2013) Russia has just hosted its premier investment summit, the St Petersburg International Economic Forum (SPIEF) on June 20-22, which is supposed to showcase the country and attract badly needed foreign investment. Instead, thanks to the Kremlin’s typically moronic handling of its PR, it only managed to make Russia […]

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Economic amnesty does not apply to Khodorkovsky, Lebedev – lawyer

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, YUKOS, Khodorkovsky
Mikhail Khodorkovsky file photo

(Interfax – MOSCOW. June 25, 2013) Former Yukos CEO Mikhail Khodorkovsky and his business partner Platon Lebedev are not eligible for the economic amnesty, their defense said. “As we have suspected, although hope dies last, this amnesty was not intended to release Khodorkovsky and Lebedev,” Lebedev’s lawyer Vladimir Krasnov told Interfax on Tuesday. “Comparing what was planned at the start […]

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Our Changing World Order – the More Options for Cooperation, the Merrier

Economy, Business, Investment, Trade, Foreign Policy, Security, Visas, Syria
File Photo of G8 Heads of State Outdoors in 2013

(RIA Novosti – Simon Saradzhyan – June 25, 2013 – Simon Saradzhyan is a researcher at Harvard Kennedy School’s Belfer Center) The recent G-8 summit in Northern Ireland quickly became another reminder that Russia has not quite integrated into what was originally founded as a club comprising the West’s richest liberal democracies. Post-Soviet Russia may boast the world’s sixth largest […]

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Contradiction between ‘modernizers,’ ‘conservatives’ farfetched – Ulyukayev

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Alexei Ulyukayev file photo

(Interfax – MOSCOW, June 25, 2013) Russia’s new economic development minister, Alexei Ulyukayev, considers farfetched a contradiction between “modernizers” and “conservatives.” “Sometimes you read about a contradiction between stability and development. There are modernizers, who are for development, and there are conservatives, who are for stability,” Ulyukayev said as he met with ministry staff. “But it doesn’t happen that way. […]

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TRANSCRIPT: Putin answers questions at St Petersburg Economic Forum – Kremlin transcript

Arms Trade, Military Aid, Budget, Economy, Business, Investment, Trade, Europe, EU, Middle East, North Africa, Oil, Gas, Energy, Syria, United States, U.S.-Russian Relations
File Photo of St. Petersburg Economy Forum Outdoor Banners and Building Facade

(Kremlin.ru – June 21, 2013) Text of report “Answers to questions from St Petersburg International Economic Forum participants, 21 June 2013, St Petersburg” published in English by Russian presidential website on 24 June; subheadings added editorially: Russia’s priorities in G20 MODERATOR (retranslated): Mr President, the St Petersburg International Economic Forum is being held in your hometown. I would like to […]

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Over 100,000 to Benefit From Economic Amnesty – Ombudsman

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Boris Titov file photo

(RIA Novosti – MOSCOW, June 26, 2013) ­ A proposed economic amnesty in Russia is expected to release almost 100,000 people from criminal liability, Russia’s business ombudsman Boris Titov said on Wednesday. “Under a previous draft, we counted 13,500 people serving their prison terms on charges covered by the draft amnesty. But we should also not forget about 70,000-80,000 people […]

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EVENT: The New Russian Sphere of Influence: Does Russia’s Eurasian Union Threaten U.S. Interests? [Washington, D.C., Thursday, June 27, 2013]

CIS, Customs Union, Eurasian Union, Economy, Business, Investment, Trade, Events
Map of Russia and European Region of Former Soviet Union or Commonwealth of Independent States

Date: Mon, 24 Jun 2013 From: “The Heritage Foundation” <mailingFP@heritage.org> Subject: Event Invitation for this Thursday – The New Russian Sphere of Influence: Does Russia’s Eurasian Union Threaten U.S. Interests? The Heritage Foundation INVITATION June 27, 2013 The New Russian Sphere of Influence: Does Russia’s Eurasian Union Threaten U.S. Interests? Featuring 10:00 a.m. ­ Panel 1 Ambassador Temuri Yakobashvilli, former […]

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Poet and Free-Market Liberal Ulyukayev Takes Over as Economy Minister

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Alexei Ulyukayev file photo

(Moscow Times – themoscowtimes.com – Alexander Bratersky – June 25, 2013) The newly appointed Economic Development Minister Alexei Ulyukayev said Monday that his main task was to prevent a recession, while Prime Minister Dmitry Medvedev said the government expected a 400 billion ruble ($12 billion) budget deficit in 2014. Ulyukayev, who served as first deputy chairman of the Central Bank […]

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Russian ministry proposes balancing budget in 2014-2016 by cutting transfers, spending

Budget, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Anton Siluanov file photo

(Interfax – MOSCOW, June 25, 2013) Russia’s Finance Ministry is proposing three maneuvers to balance the federal budget in 2014-2016 – reduce transfers to the Pension Fund of Russia (PFR), cut budget earmarks for government procurements and postpone some spending on the government arms program until after 2016, Finance Minister Anton Siluanov told reporters on Monday. “Right now the situation […]

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Foreign Investors in Russia Hesitant Despite Putin Promises

Economy, Business, Investment, Trade
File Photo of Outdoor Electronic Sign with Russian Exchange Data

(RIA Novosti – Howard Amos – ST. PETERSBURG, June 24, 2013) ­ Russian President Vladimir Putin urged foreign investors to pitch in on several multi-billion-dollar infrastructure projects last week, but his audience proved wary, with investors warning that obstacles old and new ­ from lack of predictability to slowing economic growth ­ were likely to deter inflows of new capital […]

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