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Today in Russian Business – June 19, 2012

The FT reports that Russia has apportioned $40 billion for this year and next to protect the economy from contagion should the euro zone crisis worsen.  This article considers why Russia has outperformed other Eastern European countries in growth since 2007.  Russia will reportedly offer a $10 billion injection to the IMF as part of efforts to boost the fund’s firepower.  Debt-ridden Cyprus apparently prefers a bailout from Moscow than from the EU.  Moscow region Governor Sergei Shoigu has expressed hopes of signing investment contracts worth $7 billion at this weekend’s St. Petersburg International Economic Forum.  The FT considers Russia’s dwindling appeal for investors in the retail sector.  Odnoklassniki, Russia’s second largest social network, has launched an English-language version of its web site.  See here for an analysis of why Putin has introduced a new law to reduce the number of foreign workers in Russia when the country is facing a labor shortage.