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Today in Russian Business – June 20, 2012

U.S. Secretary of State Hillary Clinton writes enthusiastically in the Wall Street Journal about improved trade relations with Russia and why it’s time to repeal the Jackson-Vanik amendment.  Finance Minister Anton Siluanov says Russia has earmarked $40 billion in funds to bolster the economy this year and next in case the eurozone crisis spreads.  These plans could run high and dry if the price of oil falls much below $120pb, says FT Alphaville.  Research firm IDC attributes the health of Russia’s IT market to strong macroeconomics.  Outlet malls are opening up in Moscow to take advantage of the current fever for discount shopping.  RusAl has signed a cooperation agreement with the Export-Import Bank of China to work on a greenfield project that could be worth up to $850 million.  Investment group Summa has agreed to buy a controlling stake in transport group FESCO, prompting the company’s shares to jump 30%.