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. Last Updated: 07/27/2016


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Billion-Dollar Principles

The president and owner of Russneft, Mikhail Gutseriyev, wrote an open letter in which he accused authorities of ""unprecedented persecution"" in an effort to make him ""more compliant.""

Strasbourg Supports Journalists' Claims

Three Russian journalists were unfairly punished for criticizing regional officials in print, the European Court of Human Rights in Strasbourg decided in two separate rulings Tuesday.

Terrorism Scam Brings 6 Year Sentence

An area construction worker has been sentenced to six years in prison for phoning in fraudulent terrorist threats to collect $200,000 in reward money.

Prosecutors Make Apologies After Spy Charges Dropped

Regional prosecutors have issued an apology to Novosibirsk researcher Oleg Korobeinichev, who was accused -- and then cleared -- of spying for the Pentagon.

Balkans Envoy Picked for Kosovo Talks

Russia has appointed senior diplomat Alexander Botsan-Kharchenko to represent the country in negotiations on the future status of Serbia's Kosovo province, the Foreign Ministry said Tuesday.

UES Wants Investor for Turbines

Unified Energy System's 25 percent stake in turbine maker Power Machines should be put up for tender, the state utility's CEO, Anatoly Chubais, said Tuesday.

TNK-BP Seeks Long-Term Contractors

TNK-BP on Tuesday announced a tender for servicing companies to supply and operate drilling rigs on much longer terms than are standard in Russia in an attempt to raise the quality and quantity of drilling.

Energia Picks New President

Shareholders of Energia, the country's flagship space industry company, met on Tuesday to dismiss Nikolai Sevastyanov as president of the Korolev-based firm, and to replace him with the little-known director of a St. Petersburg research institute.

Value Placed on State Pipeline Firms

The Federal Property Management Agency has valued the oil products pipeline monopoly at 15 percent of the value of its crude pipeline monopoly before the planned merger of the two firms, Interfax reported Tuesday.

Yukos Unit Questions Sale of Assets

The Dutch unit of Yukos warned on Tuesday that Dutch law might not recognize the sale of Yukos' foreign assets, but its Moscow's receiver said he would go ahead with the sale next month.

Business in Brief

Sistema Plans Share SplitChina's $1.1Bln Pipe LinkRosneft JV Wins LicensesRosneft Crude Exports SaleNorilsk Sees Output UpMagna Shareholders to VoteVTB Dips Below IPO PriceNo Ford Brands for GAZUMMC Copper Output UpBekaert Eyes UralkordMoscow to Build AirportsVeropharm Profit JumpsChelyabinsk Zinc Q1 SoarsEGAIS May Lose Powers

Polyus Gold Output Drops 6%

Polyus Gold, the country's top producer of the metal, said Tuesday that its output fell by 6 percent in the first half of this year to 470,000 ounces from 502,000 ounces one year earlier.

News in Brief

Insurgents Attack Police BusWorry Over Extremism LawGreat Russia to Try AgainKyrgyz Doctors FiredUzbek Islamic Paper ClosedTough Town for Foreigners7 Extremists Convicted

UES Faces Chance of Running Out of Gas

At the groundbreaking of a new gas-run turbine Tuesday, locals and UES officials turned up to celebrate, but whenever the topic turned to supplying the machine with gas, an awkward silence seemed to fall. Gazprom has given the turbine's owners faint hopes, not guarantees.

Putin Emphasizes Support for Abbas

President Vladimir Putin on Tuesday came out in support of Palestinian leader Mahmoud Abbas, as the Foreign Ministry announced that it was downgrading its ties with Hamas.

Union Cries Foul in AvtoVAZ Wage Dispute

A union threatening to bring car production at AvtoVAZ to a halt Wednesday has accused the authorities of organizing a campaign of harassment against its members in an effort to prevent the strike.

Housing Shortages Dog the Military

Retired naval officer Oleg Prokopyev spent 29 years defending his homeland. Now he says the country he would give his life for won't even give him a home.
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