President Dmitry Medvedev was one of the first world leaders to leave the Copenhagen climate change summit, after giving a speech indicating that Russia was a world leader in emissions cuts. ‘The true business consequences of Copenhagen’s COP-out will reveal themselves in the weeks and months ahead, as companies consider what, if anything, the summit’s inaction means to their strategies and shareholders.‘ Alliance Oil will receive support from Vneshekonombank after receiving visits and approvals from the president and prime minister. Vladimir Putin has unveiled the Kirill Lavrov – an oil tanker capable of slicing through more than a meter of ice – in a step towards Russia’s ability to realise its Arctic oil ambitions. Finland and Germany are the only two countries left to approve the construction of the Nord Stream pipeline after a Russian environmental watchdog added its approval last week. A new Greenpeace study says that thawing permafrost is costing Russian energy firms billions of dollars in damage control for pipelines and infrastructure and shrinking Russia’s territory.