Today in Russian Business – July 3, 2008

Prime Minister Vladimir Putin has “radically” cut the number of international organizations that receive tax breaks in exchange for giving grants in Russia, causing both the World Wildlife Fund and the Red Cross to lose their tax advantages. AvtoVAZ, quarter-owned by France’s Renault, will buy a licence to produce 450,000 Renault car engines. The same receiver that bankrupted Yukos will review a bankruptcy application for Domodedovo Airlines, whose majority stakes were transferred to state-run Rostekhnologii.