Today in Russian Business – September 14, 2009

Facts about the Opel deal emerging: Reuters reports on a company trustee who claims that more than €600 million of German aid has been set aside for upgrading the auto industry in Russia.  Putin has praised the sale as the ‘right market choice’.   The EU will investigate the money offered by the German government to the purchasers of the unit.  The Chief economist from the European Bank for Reconstruction and Development has suggested that a ruble devaluation will not cure Russia’s economic ills but rather moving away from commodities will herald economic growth.  ‘It is not a sustainable recovery yet in Russia or globally because it is based on massive government and central bank intervention’: Arkady Dvorkovich is realistic about Russian prospects.  The economic aide has some bad news for oligarchs.  The Bank of New York Mellon may lend $4 billion to Russia as part of an out-of-court settlement of a $22.5 billion lawsuit against the bank.  Russia’s Foreign Ministry has warned Guinea against taking over any more aluminium works owned by Russian companies following the seizure of Rusal’s Friguia alumina refinery.