August 22, 2012 By Citizen M

RA’s Daily Russia News Blast – August 22, 2012

TODAY: Russia enters WTO; on verge of securing oil deal with Syria, Russia promises the former will not use chemical weapons; Putin pumps diesel industry, Gazprom’s exports plummet?  Think-tank says Kremlin is grooming Politburo 2.0; Pussy Riot to trademark name; Gudkov wants warning dropped; would-be Putin assassin’s extradition delayed.

Russia has ended its 19-year wait to enter the World Trade Organisation as its 156th member; but its commodity-based economy is unlikely to now see the kind of export growth boost that the same accession led to for China.  Syria is about to secure a deal with Russia, whereby the latter will provide the former with oil products to keep its economy and military afloat.  Russia assures the world that Syria will not use chemical weapons against rebels.  President Vladimir Putin is looking to boost economic growth by investing in the refining industry, looking to boost diesel exports by over 50% next year.  Sberbank teamed up with the Royal Bank of Scotland to give Gazprom a $500 million credit line to build a polyethylene production facility, although this article argues that Gazprom’s output and European exports are plummeting.  The company’s long-planned St Petersburg skyscraper has won its final building permits.

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