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. Last Updated: 07/27/2016

07/20/2001

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Putin Takes His Triumphs to G-7 Talks

President Putin hopes to convince the G-7 countries that Russia is ready to be counted as a partner.

City Splashes Out 5 Million Liters of Beer

Saturday Mayor Luzhkov will open the taps to 5 million liters of beer at the Moscow Beer Festival.

EuroNews To Show 12 Hours A Day

A Russian version of EuroNews television will be on the air by September, RTR said Thursday.

Russian Reformers: Faultless to a Fault?

Putin has done what Yeltsin could not: get the notoriously conservative Duma to approve sweeping bills.

Organized Love

Without having done anything, without even slightly creative promises, Putin is declared a national hero.

Mutually Assured Survival for the 21st Century

The U.S. military tested a missile defense system designed to guard the themselves from attack. I wish someone would explain to me why defending yourself is wrong.

6 Soldiers Held in Probe Of Mop-Up Operation

Six servicemen have been detained for alleged crimes against Chechen civilians during sweep operations.

Damaged Kursk Area Examined

The Kursk salvage operation has found no unexploded ammunition in the wreck's damaged first compartment.

Belarus Calls Death Squad Papers Fake

A top Belarussian official condemned U.S. allegations that a death squad is operating in Belarus.

Elton John Does St. Petersburg

Sir Elton John performed in St. Petersburg at an invitation-only ball attended by the cream of the Russian elite and an entourage of royals from Britain.

News in Brief

Sergeyev Blasts Test MOSCOW (AP) — President Vladimir Putin’s military adviser Igor Sergeyev warned Thursday that Russia would view the start of construction of a U.S. missile defense test facility in Alaska as a violation of the 1972 Anti-Ballistic Missile Treaty, but held out hope that a compromise could be found. ""The beginning of construction of the test range … will signal the violation of the ABM Treaty,"" Sergeyev said at a news conference, adding that Moscow hopes that Washington would give notice of its intention to withdraw from the treaty before it starts construction. U.S. Deputy Defense Secretary Paul Wolfowitz said last week that a number of missile test activities, including the start of construction of a test facility in April 2002, would raise questions about compliance with the ABM treaty, which bans large-scale missile defenses. Other officials said the Pentagon plans to build missile interceptor silos for test launches at Fort Greely and Kodiak Island in Alaska.

Yukos PostsQ1 Profits Of $596M

Oil major Yukos posted a first quarter net profit of $596 million, satisfying analysts’ expectations.

LUKoil Sees Bitech as Global Expansion Platform

LUKoil's recent acquisition of Canada's Bitech Petroleum was another move to expand global assets.

Rail Boss: Tariff Reform a $785M Blow

A recently implemented unified tariff policy will cost the Railway Ministry $785 million in lost revenue.

EBRD Says Russia Needs To Tackle Its Monopolies

Russia is making good progress luring in foreign investment but must tackle monopolies in energy sector.

Advertisers Aim Below the Line for Customers

Russian advertising has come a long way since the financial crisis hit in 1998, when clients evaporated practically overnight and those that remained slashed their budgets.

Ministry Wants Forex Rule Scrapped by '04

Further liberalization of currency controls in Russia would help the government fight inflation.

Business in Brief

Fitch Boosts Moscow MOSCOW (Reuters) — Fitch, the international rating agency, said Thursday it has placed its long-term rating of Moscow, currently set at ""B minus,"" on positive-rating watch following a redemption of Eurobonds by the city. Fitch also has changed the outlook on St. Petersburg’s long-term foreign and local currency ratings of ""CCC plus"" to positive from stable after the city’s economy performed well in 2000 and the first five months of 2001. Reserves Up $300M MOSCOW (Reuters) — Foreign currency and gold reserves rose $300 million to a new all-time high of $35.6 billion in the week ending July 13, the Central Bank said Thursday. Reserves have risen $7.6 billion from $28 billion at the start of the year. One Million Sbercards MOSCOW (MT) — State savings bank Sberbank has issued 1 million cards for the Sbercard payment system, Interfax reported the bank as saying Thursday. The automated Sbercard system has been in operation since Jan. 1, 1997.

Chechen Warlord Fights Rebels for Russia

UPPER VEDENO, Chechnya — Raybek Tovzayev is a Chechen warlord who fights on the side of Mother Russia against the rebels of his homeland whom he calls bandits. He was born in a red brick house perched on a mountaintop where three ancestral villages of his clan look out over the Vedeno Gorge, a narrow slash of valley cut since prehistory by the retreating snowmelt from the high Caucasus further south. It is a recent Sunday, and Tovzayev has just returned from a memorial service for one of his bodyguards who was killed on June 28 during the seventh attempt by Chechen rebel leaders to assassinate Tovzayev because, as he says, he is the only thing standing between order and chaos in Vedeno. The rebels, especially Shamil Basayev, the most famous of their leaders, who also comes from Vedeno, ""are doing everything they can to get back here and to get rid of me."" Tovzayev is therefore a key link in the Russian strategy to pacify Chechnya after two cycles of war in the last decade.
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