Today in Russian Business – Dec 4th, 2008

‘What thoughts would go through the mind of a person who, after just losing his job, happened to pick up the glossy style section of a leading newspaper and saw that Russia’s first lady loves Breguet watches?‘  Shares in Sibir Energy have plummeted following the news that it would buy $340 million worth of distressed property assets from one of its shareholders -  ‘a first class scandal‘.  State Nanotechnology Corporation chief Anatoly Chubais is promoting the role of nanotechnology in times of crisis, and offering loans for nanotechnology ventures.  ‘We will defend you from bureaucracy and corruption and will promote your product,‘ Chubais said. ‘The only condition that you’ll have to meet is to produce your nanotechnology product in Russia.‘  Finance Minister Alexei Kudrin said the government may put up $11 billion to buy banks’ mortgages and guarantee corporate loans.  Insurance provider Rossgostrakh has asked the government to approve urgently a $1.54 billion issue of new shares.  New from the credit crunch: the anti-crisis menu.