Ukraine's newly-appointed government is in the process of updating its gas agreement with Russia, seeking lower prices in exchange for allowing Russia access to its energy infrastructure. The Russian Orthodox Church has asked the Kremlin to lower gas prices for Ukrainian chemical companies, saying it was a 'sensible initiative' to assist the companies, which help the Ukrainian church. Shale gas has been dominating energy news of late, but analysts say it will be a decade before meaningful volumes are flowing. The International Finance Corporation will give an Indian solar power project $10 million in investment, in a bid to make the technology commercially viable. Petrobras is to pour at least $200 billion over the next five years into the development of new oil fields off the coast of Brazil.
If the Russian police are doing something very ham-fistedly and very doggedly, that means another agency is looming behind their back. And we can guess just which one. No doubt many of us from the very beginning assumed that the
In a meeting with US Secretary of State Hillary Clinton, Vladimir Putin commented on the collapse of trade between Russia and the US, and asked that restrictions preventing Russia from obtaining 'normal trade relations' status be removed. Vladimir Potanin's media company, Prof-Media Ltd, may delay a $500 million initial public offering planned for London this spring until stock prices rise. Russia's state-run United Aviation Corporation (UAC) has no plans to bid for a $50 billion contract to replace the US Air Force fleet of air tankers. Nokia is looking to expand its own-brand stores in Russia. A report on sovereign wealth funds estimates that Russia's Reserve Fund has more than halved in value from $137 billion to $60 billion since the financial crisis. Russia's movie production companies are to receive a $68 million cash injection this year, with special bonuses to be awarded for movies drawing large audiences.
TODAY: Protests over the weekend disappoint opposition despite large numbers; Kaliningrad sees 5,000-strong crowd brandish tangerines; United Russia to grant amnesty to 300,000, Gryzlov foresees tandem rule; new opposition to Sochi as workers' arrears start to be paid. China, Guatemala.
A reported 20,000 protesters across the country denounced government policies and called for Prime Minister Vladimir Putin to resign at various rallies over the weekend, dubbed the 'Day of Wrath' by opposition movements. Kaliningrad's 5,000 protesters waved tangerines instead of posters in a bid to avoid arrest, says the Moscow Times, although the fruit was also said to reference the 'heavily tanned, small and rotund local governor Georgy Boos'. Boos, in turn, took a swipe at the protesters for being uncultured. 'The leadership is scared,' said one independent Duma deputy. The protests were apparently a 'disappointment for the opposition', who were expecting Kaliningrad-sized opposition groups all over the country, although Vladivostok drew at least 1,500. The Other Russia and RFE/RL report that numbers were down due to the preventative efforts of regional government authorities.
In response to the news that President Dmitry Medvedev may be pursuing the formation of a new political party to support his modernization agenda, Vladimir Frolov has a new piece arguing that he needs a different kind of party, of the "tea" variety. The suggestion that modernization and liberalization in Russia needs to be more than just a top-down process and must be supported by a genuine social movement has also been made by Mikhail Khodorkovsky.
Medvedev does need a political instrument to marshal public support for his modernization efforts. He has to shed the perception of a political loner, a detached and techie president who promotes his visions through his blog. At some point, he will have to fight for his agenda by leading a political party in national elections.
Over the years, Russia's safety record on fires and other accidents has significantly worsened, highlighted more recently by the nightclub fire in Perm which prompted widespread criticism and anger over government standards and bureaucratic corruption. In a New York Times article from a few years ago, CJ Chivers notes that more than 17,000 people died in fires in 2006 in Russia, nearly 13 for
every 100,000 people, which is greater than 10 times the rate of a typical Western country.
This news from CNN isn't going to do much to help change that perception:
This news from CNN isn't going to do much to help change that perception:
The chief of Moscow's firefighting service died in a blaze that broke out at a business center in the northern part of the city, Russian media reported Sunday.
Col. Yevgeny Chernyshev went missing after he entered the building to help evacuate people after the blaze broke out in the business center Saturday night, according to the state-run news agencies RIA Novosti and Itar-Tass.
His body was later found, Mikhail Verzilin, senior emergencies ministry official, told reporters. It was believed Chernyshev died when the building's roof collapsed.
On Russia Profile, Stephen Blank throws in his comment on Dmitry Medvedev's proposal for a new political party, among other opinions:
In Russia's system it is apparent that Medvedev needs his own power base and this appears to be what he is trying to create. We should not overestimate the chances for democracy, although this could injure elite cohesion and lead to further reforms. For now, however, this initiative, if it takes place, is another Kremlin party, not an independent expression of autonomous social forces. That clearly is too much to stomach.
It seems that if you are a corrupt energy company and want to invest somewhere beyond the reach of the courts, you look to the East. From Bloomberg:
OAO Rosneft, Russia's largest oil producer, may focus on Asia, rather than Europe, after Yukos Capital Sarl won a ruling freezing 425 million pounds ($648 million) in U.K. bank accounts, according to an analyst.
"It corals the company and ensures that the growth focus stays towards Asia rather than the west," UralSib Financial Corp Chief Strategist Chris Weafer said by e-mail today. (...)
"The state dictates Rosneft's growth strategy and, at least for now, that is almost entirely oriented towards China," Weafer said.
Putin has reportedly announced that he believes Russia can respond to the needs of 25% of the international nuclear market. Rosneft has reported that Yukos Capital has won a ruling freezing $648 million in bank accounts in the UK. Apparently the company plans to appeal, and asserts that oil flow will not be disrupted. Could using marine reactors be the way to make nuclear safe? Leaders in Russia's nuclear industry seem to think so, though this commentator envisages many a pitfall. Why cap and trade has a limited future in the US, in the Economist. Gas production in Azerbaijan has increased by 11.4% since the start of the year. OPEC has decided not to change its oil output targets for this year as Russia increases production. European Union proposals to force countries to construct emergency gas infrastructures have been by approved by a parliament panel. Australia sees no harm in selling uranium, for 'peaceful purposes' to Russia.
President Medvedev has announced a location for Russia's answer to Silicon Valley; skepticism about the viability of such a project apparently abounds. Vimpelcom is back in business with a US GAAP profit of $283 million for the fourth quarter of 2009 compared with a loss of $816 million the previous year. How the BRIC nations are becoming the rich uncles to many a poorer nation. UniCredit SpA and six other banks have applied to help Russia start up a bank based on the post system. Truck maker KamAZ is looking for a Chinese partnership, says Bloomberg. Avtovaz will make Renault SA's Logan sedan and Sandero compact at its main factory in Togliatti as of 2014. Sberbank's net income fell 75% in 2010 whilst tackling bad loans. Transportation minister Igor Levitin is reportedly advocating a return to using separate funds for paying for roads, a practice he believed to be more efficient; the Finance Ministry begs to differ. A U.S. company is accused of illegally exporting defense technology used by the U.S. military to Russia and three other countries.
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