Today in Russian Business – June 23, 2011

Russia has signed a deal with the European Union setting out conditions for the resumption of EU vegetable imports which were halted after an E.coli outbreak last month, but Russia says that the deal does not necessarily mean that the ban will be lifted immediately.  According to the BBC, Russia will not resume trade until it has received food safety certificates.  And a further ban on German meat and milk products is to be introduced next week.  Young money is driving the private banking sector in Russia.  European tourist numbers have fallen by roughly a quarter so far this year, and tour operators lack the capital needed to develop Russian tourism.  The government is to contribute $50 million to a $1 billion fund for investing in private regional banks.  On the ‘draconian‘ methods used by Kazakhstan and Tatarstan to finance students.  Yandex is teaming up with its rival, Rambler, to work on search and advertising services.  The FT interviews ‘motor mogulSergei Petrov.