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Today in Russian Business – July 4, 2012

‘We’d better deal with corruption first and then join the WTO, not the other way around‘: the words of one strawberry farmer who fears that accession to the free trade group will have a severe impact on domestic businesses.   A lack of qualified personnel is, this article says, a major obstacle to improving the business climate in Russia.  The advertising industry could face losses of up to $155 million if the State Duma approves legislation to ban the advertising of alcoholic drinks in print media.  Oleg Deripaska-owned electricity firm EuroSibEnergo has reportedly decided against an IPO this year due to unfavorable market conditions.  The Russian Defense Ministry has apparently slashed R&D funding in the defense industry by almost 50%.  RT introduces us to Kollywood: Russia’s plans for its very own Tinseltown, a stone’s throw from Moscow.