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Today in Russian Business – July 8, 2009

Barack Obama has urged for increased trade between the US and Russia, as current annual trade stands at $36 billion, but has stipulated that the promotion of ‘transparency, accountability [and] rule of law‘ are necessary.  The US may drop the Jackson-Vanik amendment, which has restricted immigration and prevented Washington from granting most-favored nation status to countries that do not have market economies.  ‘We should be ashamed of the size of mutual investments’, says Viktor Vekselberg.  Putin has offered support of Boeing’s wish to ‘develop cooperation with Russian partners’.  The US aircraft maker is ready to spend $27 billion in Russia over the next 30 years.  To see a video interview with John Connor, manager of the Third Millenium Russia Fund, about the investment climate in Russia, look here.  For comments on the business meetings, see Reuters.  Vladimir Putin has met with Berthold Huber, president of Germany’s Metall labor union to bolster support for the Sberbank-Gaz-Magna Opel bid.  Telenor has declared that a Moscow Court has agreed to hear a motion to stop the transfer of its Vimpelcom shares to the government.