Oleg Deripaska is not planning to float his Basic Element businesses in London: ‘I can’t see the advantage when you compare the costs with Russia, Chinese, European platforms.‘ Presidential aide Arkady Dvorkovich says that 4-5 Russian companies including Eurosibenergo are planning to list on the Hong Kong stock exchange soon. The New York Times reports on the Kremlin’s drinking-based conflict of interests, contrasting high liquor revenues and ‘sky-high alcoholism‘. The FT reports on Sobranie.Photoeffect, a new photography-oriented art fund listed on the MICEX last week. BP CEO Robert Dudley met with Vladimir Putin at the Russian Geographical Society on Friday, and was appointed to the board of trustees. The best way to invest in Russia is through ‘smaller domestically-oriented companies‘, says this FT blog. Plans to turn Moscow into an international finance center are half-completed, says the President. Criminal charges against former Arbat Prestige owner Vladimir Nekrasov have been dropped. The first tranches of Russia’s $800 million loan to Serbia will be issued in the next few months, and negotiations on a similar loan to Belarus should be completed within one month, says Alexei Kudrin. Russia’s $10 billion private equity fund, to be launched in June, is largely backed by foreign investors, who have been promised returns of up to 20%, and no lower than 15%. VimpelCom and Wind Telecom have completed their merger, creating the world’s sixth-largest telecoms company by subscribers.