Today in Russian Business – April 4, 2012

UTair Aviation has suspended all flights of its ATR 72-200 aircraft until it finds the cause of Monday’s deadly crash – engine failure has been ruled out.  Former Finance Minister Alexei Kudrin is calling for cuts to military and security spending, and more broadly for reform before the budget is completed in June.  Businessman and opposition politician Konstantin Babkin, who opposes the plan to cancel or lower 1,500 import duties once Russia joins the World Trade Organisation, is pushing for a referendum that could force the Kremlin to back down on its plans to join.  According to the Russia 2018 World Cup organising committee, the event will bring Russia almost 1 million jobs.  ‘Why invest in IT, if it doesn’t actually streamline business? That is what it is supposed to do,’ says the head of Hewlett-Packard Russia.  Rising oil prices have boosted Russian stocks to a three-week high.  India will lease a nuclear-powered submarine from Russia for the next decade.