Today in Russian Business – September 16, 2009

Reuters reports that Russia is anxious to see that economic reforms promised by the G20 are realised.  The Kremlin’s top economic adviser, Arkady Dvorkovich, has suggested that Russia should begin to ‘interlink the ruble’ with energy resources so as to render the Russian currency ‘essential’ for many countries.  Dvorkovich has also suggested a cut in VAT to stimulate the economy.  Also from Reuters, lenders have apparently been put off by two major debt cases in Russia, one of which being the mammoth debt restructuring efforts for Oleg Deripaska’s Rusal.  Russia will reportedly modify its investment laws to render investing in specific target sectors easier.  Prosecutor General Yury Chaika has said that the office will prosecute both shareholders and executives in companies which fall behind in wage payments, which could challenge the legal standing of the limited liability corporation.  The Federal Anti-Monopoly Service has announced that it has dropped its case against IKEA due to insufficient evidence, but the watchdog maintains that the Swedish furniture giant had acted unlawfully.  The Bank of New York Mellon is, according to the New York Times, nearing a settlement with the Russian government.  Telenor is realistic about its lawsuit prospects, in the Moscow Times.