Today in Russian Business

Russian oligarch Oleg Deripaska’s business methods are to be investigated by the High Court in London, as he is being sued by an alleged former associate, Michael Cherney, who is seeking a stake in Basic Element. Deripaska’s auto company GAZ, may partner with General Motors Corp. in VM Motori, an Italian diesel engine manufacturer. Deripaska’s role in Norilsk Nickel will be decided by foreign investors this week, who will vote to clear up a disagreement over control of the company’s board. Russia could avoid the risk of an economic collapse by “diversifying”. The European Social Survey says that the number of qualified and skilled Russian employees working in industry is still very high. The cheapest mansions on Russia’s new Agalarov Estate for the super-rich are selling for $15 million. Capital flight from Russia over the first two of months this year reached $20bn. Russia’s Aeroflot is putting five Tupolev-134 jets up for sale. Leading UK pension experts are “putting their retirement savings” into Russian equities. Troika Dialog, the Russian investment bank, plans to raise $1 billion from an infrastructure fund. There is a possibility that “Russian sovereign funds will take the place of Western investments in the postcommunist sphere”.