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Today in Russian Business – July 3, 2012

Russia’s arms exports for the first half of the year have increased 14% since the same period last year.  Prime Minister Dmitry Medvedev offered to teach investors ‘how to use their money’, saying that the government will not bear responsibility for funds lost in pyramid schemes.  Ikea is one of the few foreign companies keeping its contracts with security firm Oskord in spite of legal problems that have forced its founder and State Duma Deputy Gennady Gudkov to sell.  British authorities are not helping Russian investigators with their case against Hermitage Capital CEO Bill Browder.  Norilsk Nickel lost a tender to develop nickel and copper deposits in the Voronezh region because of opposition from locals and environmentalists, but will not challenge the ruling because it is ‘a socially and environmentally responsible company’.