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Today in Russian Business – Dec 21, 2010

With India apparently keen on diversifying its suppliers and trade partners, President Medvedev has lobbied hard to ensure that Russia maintains strong economic relations with its traditional ally, with the President securing a fighter jet deal on his visit to New Delhi and maintaining, ‘we can rightfully call it a privileged partnership’.  The two countries have agreed to work together to achieve the target of $20 billion trade by 2015.  Vimpelcom’s $6.6 billion bid for telecoms assets owned by Weather Investments looks uncertain after Norwegian shareholder Telenor refused to support the move, says Reuters.  Norilsk Nickel has agreed to sell $3.5 billion of stock, which represents an 8% stake, to commodities trader Trafigura Beheer.  Russia unexpectedly diversifies its exports to Qatar.  The FT looks at Suleiman Kerimov, Kremlin man and the tycoon behind the Russian potash merger.  What will the fusing of Uralkali and Silvinit do for Russia?