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. Last Updated: 07/27/2016

Business in Brief

Service Wants Stiff Charges

Criminal charges should be brought against those responsible for excessive prices for oil products, Federal Anti-Monopoly Service deputy head Pavel Subbotin said Tuesday.

“Price increases for fuel jeopardize the August harvest, but oil companies that are currently being inspected by [the service] don’t feel guilty at all,” Subbotin said in an interview with Russian Business Newspaper. The service would not initiate criminal cases itself, as it is the courts’ responsibility, Subbotin said. (MT)


RusHydro Seeks Tariff Hike

RusHydro asked the government to increase the tariff at which the state-run company can sell electricity next year by 6 percent, Yevgeny Desyatov, head of sales, said Tuesday.

The rise still won’t provide RusHydro with enough money to cover investments in new capacity. The so-called investment component is being decided on by various government agencies, he said. (Bloomberg)


RusAl Talking to Japan

United Company RusAl entered talks on fourth-quarter sales of aluminum to clients in Japan after the spot-market premium in the Asian country over London prices almost doubled this year, RusAl spokeswoman Vera Kurochkina said Tuesday.

“Now, we are traditionally negotiating fourth-quarter deliveries with our Japanese clients,” she said.

The company halted some Japanese deliveries after agreeing in June to sell as much as 1 million tons of aluminum to Glencore International, Dow Jones reported June 16. (Bloomberg)


South Stream Head Sacked

Gazprom’s official in charge of talks for the proposed South Stream gas pipeline to Europe resigned, Interfax reported.

Sergei Korovin, deputy head of Gazprom’s foreign relations department, has been replaced by Pavel Oderov, who previously worked at Gazprom’s export unit, Interfax said, citing unidentified people. (Bloomberg)


Computer Sales Up

Computer sales in Russia grew by 13.7 percent in the second quarter, Vedomosti reported Tuesday.

Importers brought 1.4 million computers into the country in the second quarter, 168,000 more than in the first quarter of the year but 40 percent less than during the second quarter of 2008, the newspaper said. (MT)


UralSib Profits Drop

UralSib’s profits dropped 38.1 percent in 2008, the investment bank said in a statement Tuesday.

The company’s net income declined to 2.1 billion rubles ($67 million). Pre-tax income in 2008 totaled 3.9 billion rubles, down 19.67 percent. (MT)


From Tower to Parking Lot

Billionaire Oleg Deripaska’s Basic Element agreed to build a temporary parking lot in Moskva-City on a site previously earmarked for the Russia Tower, Kommersant said.

Parking for 530 cars may occupy the space instead of a 118-story skyscraper that Shalva Chigirinsky failed to build because of the economic crisis, the newspaper reported Tuesday, citing a decision made by Mayor Yury Luzhkov on Aug. 1. (Bloomberg)