Today in Russian Business – April 7, 2010

President Dmitry Medvedev’s new anti-corruption strategy includes a ‘multiplier fine‘ for bribe-takers, based on the size of the bribe, which he says would be easier to enforce by law than property confiscations.  The President has also signed off on new amendments to legislation on economic crimes, changing bail conditions and damages.  Spending cuts of up to 20% through to 2015 may be necessary to stimulate economic growth, says Finance Minister Alexei Kudrin, who is also warning of one last interest-rate cut this month in a bid to stave off a rise in inflation.  Rising oil prices are reducing the need to borrow, spurring government plans to limit its first sale of foreign currency bonds since 1998 to $10 billion.  The mayor of the eastern Russian city of Novokuznetsk has resigned over an ongoing investigation into his son’s alleged embezzlement of over $3 million.  The privatization of Russia’s top companies has been delayed due to political obstacles, nationalist sentiments and vested interests, says this article