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Today in Russian Business

Read an in-depth report on Russia’s economy from The Economist here. Russia’s central bank has announced that it is suffering “not insignificant” losses as a holder of securities in US home finance firms. Finnish utility Fortum has committed to pay $3 billion for Russia’s TGK-10, a “record price”. Russia’s antimonopoly watchdog has cleared a deal by French carmaker Renault to buy 25% of Russia’s biggest auto maker AvtoVAZ, and the estimated $1 billion deal will be signed today.