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Today in Russian Business – June 13, 2012

Standard & Poor’s ratings agency has concluded that political risk and the lack of economic development under President Putin are impeding Russia’s sovereign-credit rating.  The Riyadh Chamber of Commerce has reportedly canceled a meeting with a Russian business delegation in protest at Moscow’s support for the Syrian government.  A group of US senators has moved to establish ‘permanent normal trade relations’ with Russia by introducing a bill to repeal the Cold War era Jackson-Vanik amendment.  According to Businessweek, the proposition was met with immediate resistance from Senate Republicans who said Congress must first address Russia’s poor human rights record.  Sergei Krivorotov, the director of SK Vladstroyzakazchik, the company building the APEC Vladivostok summit sites, has, according to this report, been murdered.