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. Last Updated: 07/27/2016


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Budget Deficit Could Drain Much of Stabilization Fund

By Jessica Bachman and Nadia Popova
A significant portion of Russia's $215 billion stabilization fund will be spent in 2009 to cover the country's budget deficit, said Finance Minister Alexei Kudrin at a State Duma meeting on Friday.

State Lays Out Job Stimulus Program

Opening up a private business in Russia may no longer prove to be a daunting task — for the unemployed, that is.

Austrian Court Rules For Ex-Mayor's Extradition

An Austrian court has ruled in favor of the extradition of former Stavropol Mayor Dmitry Kuzmin, who fled Russia in 2007 amid corruption charges and has requested political asylum in Austria.

Power Vertical Lost in Krasnodar Woods

Construction in a pristine reserve on the Black Sea has come to an uneasy halt after picketing environmentalists forced police to intervene, but the firm doing the work says it can restart any time, even after federal authorities ordered a criminal investigation.

Shuvalov: Tycoons Won't All Get Help

Russia will not write a blank check to save top businessmen hit by the global economic crisis, and the state expects something in return for helping bail them out, First Deputy Prime Minister Igor Shuvalov said Thursday.

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