Today in Russian Business – September 21, 2009

The Washington Post reports that Prime Minister Putin told businessmen at the Sochi investment forum that the Russian economy is ‘totally underinvested’ and lamented ‘uncontrolled’ US debt.  Russia’s participation in the Opel deal would be a waste of time if technologies were not offered to the country, says Sberbank CEO German Gref, according to Reuters.  Sberbank expects its profit will increase considerably in 2010 compared to this year when provisions look likely to swallow up all its earnings.  Private equity fund TPG has said that the Opel deal has encouraged it to look to Russia for new opportunities.  Rusnano will issue up to $5.9 billion worth of bonds by 2015 to compensate for lost government investment.  Rusal is apparently looking to finalize its debt restructuring plans after talks with the Libyan Investment Authority and other sovereign wealth funds failed to reap any results.  Russia has delayed changing timber export duties until 2011, and may even lower them.  Oleg Tinkov, founder-owner of eatery Tinkoff, has announced that he will sell his share in the restaurant to Mint Capital.  Tycoon Alexander Lebedev takes a stab at corruption and feeble corporate governance.