Russia’s energy minister is discussing ways in which the country’s oil reserve could influence global oil prices. Mosenergo will create its own engineering firm to handle turbine construction for Russian energy companies including Gazprom. Dresdner Kleinwort won’t reveal why it is cutting its coverage of Russia’s oil and gas sector. Russia is ‘wielding enormous leverage’ in disputes over the Iranian and North Korean nuclear programs. The high cost of energy on global markets ensures that the Russian economy has a solid foundation.