Today in Russian Business – Jan 13th, 2009

Putin is scheduled to be the opening speaker at the World Economic Forum at the end of this month, but he’ll have his work cut out for him, says Bloomberg.  Writing about a ‘deep slowdown’ in the global economic system, the Organisation for Economic Co-operation and Development reveals that Russia is one of the three large world economies showing the fastest rate of deterioration.  Russian companies are abandoning the ruble and returning to a barter system, says the Moscow Times.  The European Commission is ‘disappointed’ by Russia’s decision to introduce higher tariffs on imported cars, despite widespread protests against the measure.  Sberbank saw deposit inflows of $5.5 billion last month, recouping October’s $3.4 billion outflow and weak November flows.  Russia has lifted restrictions on fish imports from the UK for the first time since last April.  The Defense Ministry is to clarify its official position on the alleged sale of $800 million worth of ammunition to Armenia later this month.  

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