Today in Russian Business – June 10, 2011

Despite yesterday’s rumors to the contrary, Georgia and Russia have apparently not made any ‘substantial‘ progress in three months of talks on Russia’s bid to join the World Trade Organization, according to Georgian Prime Minister Nika Gilauri.  The Moscow Times reports on the trials and tribulations of beleaguered businessman and deputy Ashot Yegiazaryan who is engaged in a billion-dollar lawsuit against tycoon Senator Suleiman Kerimov.  The FT looks ahead to the creation of the world’s second-biggest potash producer by capacity next week when the merger of Uralkali with Silvinit, the two potash producers controlled by Kerimov, is expected to be finalized.  Who would a new law freeing economic criminals who pay five times their way out really help, wonders this article.   Capital outflows from Russia may surge 42% to $50 billion this year due to an ‘unfavorable’ investment climate and concerns for a weakened ruble.  Putin’s new initiative for cutting red tape.