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Articles by Alexander Panin

Russia Cuts Price of Vodka Amid Double-Digit Inflation

Russia has dropped the minimum price of vodka by 16 percent in an attempt to ward off a rise in moonshine consumption, spurred on by the falling...

Will Russia's Economic Crisis Help It Defeat Corruption?

Recent official statements suggest that Russia is launching a real war on corruption, a systematic illness that has long eaten at the stable economic...

Russian Prosecutors Crack Down on Retailers as Food Prices Soar

As the ruble's fall drives up the price of even the most basic necessities, the Russian government is cracking down on retailers in an effort to curb...

As Fuel Prices Rise, Russia Eyes Specter of 2008 Gasoline Crisis

Despite a recent dip, gasoline prices in Russia are expected to surge this spring on the back of growing demand, prompting fuel shortages and queues...

Moscow's New Offensive Against Street Kiosks to Strike Small Business

City Hall's new offensive against street kiosks this year will refresh Moscow's image, but strain the city's budget and push the last remaining small-time...

Russian Airlines Brace for Tough Year as Ruble Falls

Russia's top airlines are eyeing the specter of bankruptcy in 2015 following last year's ruble meltdown, which decimated travel spending and drastically...

Russia's New Turkish Stream Gas Strategy More Bark Than Bite

Although officials in Moscow have trumpeted the cancellation of the South Stream natural gas pipeline as a major blow to Europe, energy analysts say...

Russia To Face Same Old Questions at Davos In Chillier Atmosphere

As the World Economic Forum kicks off in the Swiss alpine town of Davos on Wednesday, Moscow's delegates will be working hard to convince participants...

Russian Retailers Brace for Tough Year After December Panic Buying

With December's massive consumer spending spree giving way to cautious saving as ruble devaluation eats away at Russians' salaries, analysts are pessimistic...

Russian Oil Firms Can Weather $50 Oil

If oil stays at its current price through this year, Russia's gross domestic product will likely shrink more than 6.5 percent, but Russian oil companies...

Recession Means Grim Prospects for Russia's Vital Industries

With the World Bank's latest forecast predicting a 2.9 percent contraction of Russia' economy this year, the country's energy, banking and industrial...

Russian Banks Plead for Interest Rate Cut as Borrowing Costs Spiral

Russian banks have urged the Central Bank to sharply cut interest rates to prevent a wave of corporate bankruptcies and collapsing demand for loans...

Ruble Chaos Sparks Russian Spending Spree

At 8 p.m. on Wednesday, GUM, a historic chic shopping mall near the Kremlin, had more salespeople than customers.

Ruble Chaos Forces Retailers to Suspend Sales in Russia

Massive fluctuations in the value of the ruble currency on Tuesday have prompted retailers to make emergency price revisions or even suspend sales and...

Russia's Energy Outlook Gloomy Amid Falling Oil Prices

While most oil-dependent economies are likely to suffer under the low and volatile oil prices predicted for next year, analysts paint a particularly...

Eurasian Union's Future Murky as Belarus Tensions Simmer

Less than a month before the launch of the much-vaunted Eurasian Economic Union, a spat between Moscow and Minsk over a Russian ban on Western food...

Falling Ruble Curbs International Travel From Russia

The crumbling value of the ruble currency is raising the cost of air travel and train journeys out of Russia, forcing major transport companies to either...

Russia's South Stream Alternative Rests on Shaky Ground

Ukraine's role as a natural gas transit zone between Russia and the European Union will be "nullified" once a newly announced pipeline through Turkey...

Falling Ruble Boosts Housing and Hotels Over Offices and Warehouses

While warehouse and office real estate markets in Russia are close to saturation, analysts see promise in the hotel and housing sectors, as the falling...

Volvo Expands Russian Truck Plant Amid Market Slump

As a falling ruble and stagnant economy continue to drive down truck sales in Russia, Swedish auto manufacturer Volvo last week expanded its truck...

Russian Train Maker Wins $2.6 Billion Moscow Metro Tender After Foreign Firms Back Out

Russian train maker Metrovagonmash has won a massive international tender to supply 96 trains for the Moscow metro after major foreign producers including...

Standard & Poor's Predicts Russia Will Avoid Recession, Downgrade

Russia's economy will dodge recession and see a modest revival of growth as the ruble currency strengthens slightly and oil prices stabilize at $90 per...

No More Golden Toilets: Rich Russians' Taste in Real Estate Is Changing

Golden toilets and monumental hallways no longer top the must-have list for a luxury apartment in Russia as demand shifts to functionality rather...

Buckwheat Panic Points to Economic Fears

Following the news of a bad buckwheat harvest, panic buying of the traditional foodstuff sent prices soaring in a sign that some analysts say is likely...

Russian Lobbies Strip Out Small Business Law's Tougher Provisions

Russia's business lobbies proved their mettle Tuesday after the State Duma passed a much stripped-down version of a business law, which may even be...

Russia's Weak Ruble Puts China's Moscow Development Projects On Hold

At least two Chinese construction and development projects in Moscow were reportedly postponed last week as the depreciation of the ruble, which has...

Russian State Budget and Oil Majors Eye Low Oil Prices Through 2015

In a blow to the financing of the state budget and Russian oil majors alike, global crude prices will likely remain low until 2015, according to the...

First Double-Decker Aeroexpress Train Arrives in Moscow

Swiss locomotive manufacturer Stadler on Thursday delivered the first of 25 double-decker trains to Russia's Aeroexpress, the company that operates...

Gasoline Prices in Russia Expected to Grow Above Inflation

The price for gasoline is expected to rise steeply in 2015 as new duties and an imbalance of supply and demand take their toll, putting further...

Staggering Economy and Sanctions Cut Siemens' Russian Growth Spurt Short

Germany-based Siemens, the largest engineering company in Europe, on Tuesday reported a sharp drop in turnover as well as personnel cuts for its Russian...

China Gets Upper Hand in Gas Deals Amid Russia-West Tensions

Speaking at the Asia-Pacific Economic Cooperation forum on Monday, President Vladimir Putin vowed that Russia would develop all forms of trade with China...

Russian Small Business Likes Sanctions, Loathes Stagnation

Even as Russia's wins plaudits for improving its overall business climate amid Western sanctions, surging inflation and an economic slump, small and medium-sized...

China Beating Russian Firms in Drive to Replace Sanctioned Western Technology

Sanctions limiting Russia's access to Western equipment and expertise in shale and Arctic oil production have been in force for two months, but local...

How Slumping Oil Prices Hit Russia's Sanctions-Struck Oil Industry

Three screws are tightening on Russia's oil industry.

Russia's Economic Slump Forces Logistics Firms Into the Regions

As demand for new warehouse space collapses in Moscow amid Russia's close-to-zero economic growth, logistic firms are flocking to the regions in a...

Russia's Sovereign Rating Clings to One Notch Above Junk Status

Rumors that Russia's sovereign debt would be branded "junk" by a major credit rating agency hung over the markets on Friday, driving the ruble to new...

Russia's Biotech Innovations Are More Star Trek Than Star Wars

Although information technology was once the darling of Russia's innovation sector, a sanctions-flecked economic slowdown is pushing manufacturing and biomedicine...

Success of Russia-Ukraine Gas Deal Depends on EU's Willingness to Pay

As the Russian and Ukrainian Energy Ministers sit down with European Commission chaperones to resolve their intractable natural gas dispute on Tuesday...

Moscow Metro Announces $3.2 Billion Tender for Modern Train Cars

The Moscow metro on Friday announced an international tender worth more than 130 billion rubles ($3.2 billion) to supply 768 metro cars and service...

Russia Plans Giant State Oil Services Company to Replace Western Firms

President Putin has approved the creation of a state-owned oil exploration drilling corporation that will replace Western oil service companies forced...

Russians Flock to Budget Stores as Prices Rise

Russia’s faltering economy appears to be edging shoppers into budget food stores, with two of the country’s biggest food retailers reporting a double-digit...

Why Can't Russia Supply Itself With Fish?

The salmon-catching season in Russia's Far East is almost over, and refrigerators in Russia's port city of Vladivostok are filled to the brim.

LUKoil Seeks European Cash for Project Undercutting Gazprom's South Stream

While the future of the gigantic South Stream natural gas pipeline from Russia to Europe remains mired in uncertainty, an alternative project is...

Russia's Sanctions-Chilled Real Estate Market Showing Signs of Life

Despite a tightening of Western sanctions and a stuttering economy, investment in Russian real estate grew in the third quarter of the year, and the...

Putin Promises Rosy Future for Russia's Economy Despite Sanctions

The government will not stimulate Russia's faltering economy by increasing spending, but will support major companies and infrastructure development...

Russians Return to Vodka as Beer Prices Rise

Brewers in Russia are streamlining operations and decreasing production volumes amid high excise duty, government overregulation and decreased consumer...

Facing Western Sanctions, Russia's LUKoil Asks Government for Oil Fields

Russia's biggest private oil producer, LUKoil, is seeking support from the government to help it weather Western sanctions that have locked it out of international...

Government Undercutting Its Own Drive to Localize Pharmaceuticals Production

Excessive bureaucracy, deficient legislation and an absence of government guarantees are hampering a drive to localize pharmaceutical production in Russia...

Western Sanctions Could Damage One-Fifth of Russia's Oil Production


Some 100 million tons of annual oil production — or about 20 percent Russia's total output — is at risk because of sanctions related to the supply...

Russia's Gas Supply Cuts to Europe Bolster Gazprom's Bargaining Power

For two weeks, reports have been surfacing of large falls in volumes of Russian gas deliveries to Eastern European countries that are supplying gas...

U.S. Business in Russia Willing to Weather Sanctions

Globally renowned for their go-getter attitude and entrepreneurial spirit, U.S. businessmen were mostly positive when discussing sanctions at an international...

Sanctions Squeeze Western Oil Service Companies Out of Russia

Western service companies will be forced to limit or even cancel their operations in Russia as the result of a new round of sanctions imposed by the...

Iran to Capitalize on Russia-West Standoff Over Ukraine

When Vladimir Putin and Hassan Rouhani meet on Friday against the backdrop of Russia's slide into the abyss of Western sanctions, the two countries...

EU Developing Emergency Plan for Winter if Russia Cuts Off Gas Flows

European Union authorities could step in to manage the flow of gas between member states if failure to resolve the conflict in Ukraine by winter...

Murmansk Fish Factory Sues Russian Government Over 'Illegal' Food Import Ban

Mikhail Zub, the long-standing head of a privately owned fish processing plant in the northern city of Murmansk, is one of a kind in Russia.

Ukraine Tries to Kill South Stream by Luring Foreign Firms Into Gas Network

Ukraine on Monday opened its gas transit infrastructure to potential Western investors, but kept the door firmly shut on its key supplier-turned-antagonist...

Gazprom's Grip on Russian Gas Exports Weakens as Novatek Gets Export License

Novatek, Russia's largest independent gas producer, has been granted a license to export liquefied natural gas, or LNG, marking the next step on Russia's...

Russia Approves Rail Union of 3 Ex-Soviet States to Tap Into China-Europe Trade

Russia's government green-lighted a joint venture between the state railway companies of Russia, Belarus and Kazakhstan that aims to grab up to a...

Australia Bans Uranium Exports to Russia Over 'Bullying' of Ukraine

Australia, the most uranium-rich nation in the world, said Wednesday that it would ban exports of the material to Russia because of that country's...

Russia's Decision to Float the Ruble Constitutes Risk in Turbulent Times

As the ruble weakens to record lows against the dollar and euro, Russia's Central Bank is preparing to let it float free, likely leading to a short-term...

EU Threatens Russia With Further Sanctions

EU leaders have agreed at a summit in Brussels to have new sanctions against Russia prepared within the next week if Moscow does not take steps to de-escalate...

International Carmakers Confident of Market Revival

International carmakers are hopeful that Russia can become Europe's biggest market and vindicate their decision to spend more on localizing production...

As Russia and U.S. Struggle, China Rejoices

With multi-billion dollar energy deals between Moscow and Beijing recently being pushed through, China, the world's second-biggest economy, is benefiting...

Cost of Air Travel Set to Rise After Sudden Increase in Aviation Fuel Price

A rise of up to 7 percent in the price of aviation fuel at Russian airports since May will push up costs for domestic carriers, making Russia's...

Struggling With Sanctions, Russia Faces Oil Price Crash

The price of Urals crude oil, Russia's key export and the lynchpin of its government finances, fell below $100 this week for the first time in more...

Ramenskoye Military Airfield to Become Moscow's 4th International Airport

Ramenskoye airfield in Moscow's southwest suburbs is set to be transformed within two years into Moscow's fourth international passenger airport.

Putin's Food Ban Splits EU on Wisdom of Russia Sanctions

Eastern European countries hit hardest by Moscow's food bans begin to question the wisdom of wrecking their economies in the name of a strategy that...

Russia May Soon Return to Soviet-Style Price Controls

Soviet-style price controls on the retail sector may be coming back, as the government strives to fight price hikes in supermarkets following Moscow's...

Food Import Ban Shows Weakness of Russia's Customs Union

Even as Russia seeks to deepen and expand trade alliances in the face of economic isolation from the West, the unilateral trade restrictions that...

Germany Asks Ukraine to Forgo Sanctions That Threaten Gas Transit to Europe

Germany on Monday demanded that Ukraine forgo its plans to disrupt the transit of Russian natural gas to Europe as part of its proposed sanctions...

Belarus Ready to Make a Killing on Russia's EU Food Bans

Belarus stands to profit off the bans that Russia has imposed on a range of Western food imports, with a chance to both boost its own production...

Sanctions Would Ground Russia's Major Airlines

The grounding this week of Russia's low-cost airline, Dobrolyot, by EU sanctions has exposed the vulnerability of Russia's airline industry, which...

Ban on State Employees' Travel Abroad Sinks Russian Tour Operators

The fourth Russian tour operator in just over one month went bust this weekend, after the government recommended that security and law enforcement...

Sanctions on Technology Imports Leave Russia Playing Catch Up

The impact of the EU's latest and harshest sanctions on Russia will be felt most keenly in the country's economic sectors that are largely dependent...

With Sanctions, Russia Becomes Crimea's Sole Investor

Under the weight of the latest round of European Union sanctions, the contested territory of Crimea will become an even greater burden to the beleaguered...

EU Energy Sanctions Only Painful on Paper

While the EU's harshest sanctions against Russia to date do target major sectors of the Russian economy, great care has been taken to avoid damaging...

EU Sanctions to Squeeze Russian Banks, Consumers

The EU's agreement to impose broad economic sanctions on Russia for its position on Ukraine threatens to stop off the trickle of affordable capital...

Court Orders Russia to Pay Yukos Shareholders $50 Billion

After almost a decade of consideration, The Hague's arbitration court announced Monday that Russia must pay out $50 billion in damages to the shareholders...

Apartment Builders Find Alternatives to Concrete Panels

City Hall cannot yet fully ban the outdated models of prefabricated concrete-block panels used for the construction of cheap apartments, but a move...

Q&A: Yakunin Sees Bismarck Plot in Ukraine Unrest

Vladimir Yakunin is convinced that Ukraine's forced amputation from Russia is a triumph for Otto von Bismarck, who plotted the whole thing in the...

Bookmakers Cash In on World Cup Upsets, Bizarre Bets Pay Out

A $50,000-punt on your favorite player becoming the top scorer at the World Cup or a wager on the probability that Luis Suarez will sink his teeth...

With Austria Deal Signed, Gazprom Wears Down EU Opposition

Russian state-run energy giant Gazprom finalized a deal on Tuesday to build the Austrian branch of its massive South Stream gas pipeline to Europe...

Metals Giant Evraz Plans to Take Bite Out of Global Rail Market

Now that it has completed its new production facility in Russia, metals and mining group Evraz is eying rail markets in Latin America, the Middle East...

Moscow-Kazan Rail Line Likely to Get Green Light Despite Delays

The government is likely to support a multibillion dollar high-speed rail line between Moscow and Kazan, even though financing will be delayed, the deputy...

Europe Bracing Itself for Worst-Case Gas Scenario

In the wake of Russia's decision to switch Ukraine to prepayment for gas starting Monday, the European Union is planning a new round of negotiations...

BP Says Russia Will Profit From Rising Demand for Oil and Gas

Global demand for oil and gas — Russia's key exports and the lynchpin of its foundering economy — is growing, and Russia is well placed to capitalize...

Ukraine Getting Upper Hand Over Russia in Gas Diplomacy

While the threat of shutting off gas deliveries remains Russia's main bargaining chip in its price dispute with Ukraine, Kiev continues to score political...

Putin Denies Ill Effects of Internet Restrictions on Business

President Vladimir Putin — known for being wary of the Internet, which he once called a CIA project — on Tuesday recognized the industry as an important...

Russia Edging Away From Quantity Over Quality Approach to Construction

Until the demand for cheap and affordable housing is satisfied in Russia, there will be no incentive to use modern materials or advanced technology...

5 Insider Stories From Russia's Fledgling Start-Up Market

Start-ups, business angels and venture funds — these terms have become part of the Russian language, although just a few years back they were almost...

South Stream Dragged into Russia-Ukraine Gas Spat as Rhetoric Spikes

Just as it seemed that a solution to the gas dispute between Ukraine and Russia was near, Ukraine has returned to its old price demands and the European...

City Hall Battles Moscow's Taxi Free-For-All (Video)

In two to three years Moscow will resemble New York — not for its skyscrapers but for the yellow cabs that will dominate its streets, erasing the colorful...

For Russia, Eurasian Union is About Politics, Not Economy

With the milestone agreement to create a Eurasian economic union clinched on Thursday, Russia put cheap energy resources at the head of its drive to pull...

A Look Inside Moscow Metro's Train Factory Ahead of $7.5Bln Tender

Not satisfied with its recent 144 billion ruble ($4.1 billion) tender to supply and service 832 new train cars, the Moscow Metro will run a new one...

Russia Bats Off Yatsenyuk's Accusation of Gas Stealing

Acting Ukrainian Prime Minister Arseniy Yatsenyuk said on Tuesday that Russia should return the $1 billion worth of gas that he said it stole while annexing...

New Ukrainian President Offers Moscow No Respite in Gas Conflict

A day after winning the Ukrainian presidency, Petro Poroshenko went on the offensive in his country's gas conflict with Russia, advocating reverse...

Long-Awaited Russia-China Gas Supply Deal Eludes Putin in Shanghai

Among the major deals sealed during the first day of President Vladimir Putin's visit to China, the most hotly anticipated was conspicuously absent...

France's Technip Confirms Plans to Build Yamal LNG Facility in Russia

French engineering and construction firm Technip will forge ahead with plans to build a liquefied natural gas, or LNG, facility for the Yamal LNG project...

The Robotized Future Will Look Like 'Transformers' But Will Not Be Made In Russia

For better or worse, a Terminator is unlikely to appear for at least the next 20 years, unless the Arnold Schwarzenegger-shaped robot somehow arrives...

Germany's RMA to Supply Gazprom With Made-in-Russia Pipeline Equipment

Germany's RMA Pipeline Equipment, a major contractor for Russia's gas giant Gazprom, opened its biggest factory to date in central Russia on Wednesday...

Crimea Sucks Funds from Infrastructure Mega-Projects in Russia's Regions

Crimea has become a multi-billion dollar sponge soaking up funds slated for crucial infrastructure projects in other regions, as the government scrambles...

Russia's No. 1 Military Producer Reports Growing Revenues

As demand for Russian anti-aircraft missiles grows both at home and abroad, Almaz-Antey, the country's leading defense producer, reported a record...

U.S. CEOs Shun St. Petersburg Forum But Send Their Deputies

Despite the White House's calls for major firms to boycott the Saint Petersburg conference, Russian officials said Wednesday that the forum would...

Banks in Ukraine Bleed Capital as Violence Shuts Branches in East

Several banks have halted operations in turbulent eastern Ukraine since the beginning of the week, fearing for the safety of their clients amid flaring...

Kerch Bridge To Crimea May Become Russia's Link To The East

Russian industry analysts said Monday that possible involvement of Chinese companies in building a bridge from mainland Russia to Crimea was a solid...

Russian Railways Calls For More Government Support

Financially struggling Russian Railways will need major government support if the state-run monopoly wishes to stay competitive with air and automobile...

Nuclear Icebreakers Clear the Way for Arctic Oil


While the voyage of steamship Chelyuskin was one of the first attempts to sail the length of the Northern Sea Route in 1933, French catamaran Babouchka’s...

European Businesses Oppose Sanctions But Note Localization Problems

Industry and Trade Minister Denis Manturov attempted to persuade European businessmen on Wednesday that they are still welcome to invest in the country...

Russia Prepares For Possible Economic Isolation

Russia will adjust its economic course to make the country less vulnerable to another possible wave of sanctions from the West and will look for new...

Foreign Pilots Bill Becomes Law

President Vladimir Putin on Monday signed into law a controversial bill, allowing Russian airlines to hire foreign pilots.

Aeroexpress Turns to Stadler's Double-Decker Trains to Support Growing Ridership

The Aeroexpress, the train linking Moscow’s Domodedovo Airport with Paveletsky Station, was only half-full at noon on a recent workday.

State Companies May Queue for 'Great' Oil Field

State companies may be interested in developing the recently discovered gigantic oil field in the Astrakhan region near the Caspian Sea, analysts said...

China to Invest $5Bln in Russia's Far East

Amid increasing tensions with the West, Russia is making progress on long-awaited deals with its eastern neighbor, China.

Russia Prepared To Break Military Ties With Ukraine

Russian Armed Forces may replace the SS-18 Satan, the world's heaviest intercontinental ballistic missile, earlier than planned due to a standoff with...

Government Mulls Prepayment for Gas to Ukraine

Russia's state-owned exporter Gazprom may start to demand up-front payments before supplying gas to Ukraine, as discussed at a government meeting chaired...

New Sanctions May Freeze South Stream Pipeline

As the EU presses on with sanctions against Russia for seizing Crimea, the $50 billion South Stream pipeline, meant to bring Russian gas through the Black...

Gas Replaces Weapons in New Russia-West Standoff

As the worst standoff since the Cold War emerges, energy and economic diplomacy are the tools the West applies to contain Russia, expecting them...

German Companies Remain Supportive of South Stream Gas Pipe

While Russia's standoff with the West over Ukraine may have caused Italian energy group Eni to distance itself from the huge South Stream gas...

Russia's $740Bln Plastic Card Market a Sweet Pie for Major Banks

As top government officials speed up the birth of a national credit card system in an asymmetrical response to U.S. sanctions over Russia's incorporation...

Fast-Baked Ticket Law Meant To Prop Up Budget Carriers

A bill that would allow Russian airlines to offer nonrefundable tickets and be competitive in this regard with their foreign counterparts passed first...

Mounting Rental Prices Put Burden on Small Businesses

A bill that would make it obligatory for more small and medium-sized businesses to pay property tax passed both houses of Parliament this week, and is...

With Sochi Olympics Over, Russia Diverts Resources to Crimea

Following Russia's lightning-fast incorporation of Crimea, authorities are throwing vast amounts of financial and human resources into efforts to create...

Overheads For Carriers Escalate as Russia Exits From International Customs Convention

Russia's withdrawal from the TIR international customs convention will cost carriers more than $2.5 billion in overhead payments per year, the International...

Will Crimea Become Russia's Hong Kong?

In addition to securing its naval base, pebbly beaches and the oil and gas off the Crimean shelf, Russia's incorporation of the peninsula will yield...

Regional Commuter Train Services Could Wither

Suburban commuters in many Russian regions may soon find themselves switching from trains to buses, as state subsidies freeze or disappear and regional...

Russia Coming Late to Robotization of Production

Factories employing traditional manual labor are being increasingly challenged by highly automated intelligent machines that lower production costs while...

Stock Markets Nervous Over Crimean Referendum, Economic Sanctions

Fears of Russia’s possible economic isolation amid the political crisis in Ukraine have been causing investors to pull out their funds from the domestic...

Interagency Snafu Delaying Issuance of Tax ID Numbers

A lack of coordination between two government agencies concerning taxpayer identification numbers is creating difficulties for some foreigners trying...

Investors Call For City Hall To Share Financial Risks In Metro Cars Tender

A 500 billion ruble ($13.7 billion) tender to supply and service 2,800 metro cars will be announced in the coming months, authorities said Wednesday...

Outcry Swaying Landfill Strategy (Video)

Carrots will not grow in the village of Dyakovo, 40 kilometers from Moscow. Next door to Dyakovo is the Dmitrovsky dump, a landfill site as tall...

Interactive Moscow Road Map Highlights Construction

Constant changes and ambiguous names make the unprecedented road construction program in Moscow understandable only to transportation professionals...

Ukraine Uncertainty Depressing Growth and Investment

As world leaders increase or trash their political clout depending on their audience and the statements they make about the situation in the Ukraine...

Proletarian Robots Getting Cheaper to Exploit (Video)

Learning French from your housekeeper while she cleans up after you could soon become an affordable reality if a Russia robot maker reaches his planned...

Potential Investors Get Preview of Moscow-Kazan High-Speed Rail Project

The Moscow-Kazan high-speed railway concession project was presented to potential investors on Tuesday, in advance of expected government approval for...

YotaPhone Announces New Version of Russian Smartphone

Just months after the first sales of the YotaPhone, the Russian entry into the lucrative smartphone market, the device's manufacturer presented a new...

Economists and Officials Disagree On Recovery Forecasts

According to government predictions, state companies' spending plans are likely to pull the economy out of stagnation toward the end of the year...

Banks' Profitability Falls as Consumer Loans Turn Bad

Banks that have been profusely lending money to Russians will have to pump up reserves to offset growing losses, according to a banking forecast for 2014...

Audit Reveals $191M Overspend on Moscow-St Petersburg Highway

Toll revenue on a 72-kilometer section of the new Moscow-St. Petersburg highway will not only not be enough to recoup the billions of rubles spent...

Strong Demand Continues for Warehouse and Industrial Space

Radius Group's expansion of the South Gate Industrial Park in the Moscow region confirms demand for high-quality warehouse and production space remains...

Kalashnikov Targets Costs and Inefficiency after $50M Loss

Weapons maker Kalashnikov will have to cut costs, ax managerial staff and increase output per worker to escape its dire financial situation, the company's...

Incentives for Exploiting Hard to Reach Hydrocarbons Insufficient, Industry Executives Say

Tax breaks for oil and gas companies are not enough to make hard-to-recover hydrocarbon reserves economically viable, executives said Thursday at a...

New Metro Ring Line On Track for 2018

City Hall's plans to build a second ring line for the Moscow metro, first announced two years ago, are not only taking shape but progressing faster...

Gazprom Overspending Dwarfs Sochi Costs, Expose Says

Gazprom is spending money on useless pipelines that makes the $51 billion spent on the Sochi Olympics look modest, an opposition party investigation said...

Russia Prioritizes Military Buildup as NATO Cuts Back

Russia, Asia and the Middle East are fueling a global upswing in defense expenditure, even as the member nations of the NATO alliance continue to cut...

Changes in Regulations Could Help Break the Offshore Ice

State-controlled oil giant Rosneft had a very good year. That is what company chief executive Igor Sechin told Prime Minister Dmitry Medvedev on Friday...

Skolkovo Foundation Touts Growth as Innovation Rating Drops

Despite the fact that Russia went down 11 positions to 62nd place in the 2013 Global Innovation Index, Skolkovo Foundation executives said Thursday...

5 Years After Putin's Scolding, Deripaska Offers Plan for Single-Industry Towns

Billionaire Oleg Deripaska's Basic Element on Wednesday outlined ways to breathe new life into hundreds of single-industry towns teetering on the...

Perseverance and Presence Key to Bayer in Russia

A resilience gene in German chemical giant Bayer's corporate DNA has not only helped it to become a world leader in its 150 years of existence, but...

Weapons Research Agency Strives To Rival U.S. Counterpart

The Russian counterpart to the U.S. DARPA military research agency has outlined several promising high-end defense projects for an armed forces currently...

EBRD Pessimistic About Regional Growth

Despite improvements in the world's developed economies such as the U.S. and Europe, regional growth is expected to be slow this year, especially for emerging...

Global Experts See Role for Small Players in Big Business

Despite the transformation of Russia by its natural resources sector, red tape and governmental capriciousness will retard further growth, regional...

Foreigners Optimistic at Gaidar Forum

It became apparent that foreign economists and captains of industry view Russia's economy more positively than the country's officials, as they mingled...

Hungary Gets $14Bln Loan for Nuclear Plant

As Russia looks for more profits from long-term nuclear energy projects with other countries, President Vladimir Putin and visiting Hungarian Prime...

Familiar Questions to be Posed at Gaidar Forum This Week

The recurring question "What is to be done?" posed by Chernyshevsky and Lenin, will again be posed this week as government officials and international...

Putin's 12 Most Significant Trips in Russia This Year

Floods, armies, space travel, dreams of Eurasian integration and the prosperity of the Far East all dragged President Vladimir Putin from the comfort...

Charges on New Bypass Start Jan. 1

Drivers who have been enjoying the jam-free 18.5 kilometer ride along the newly built multi-billon dollar highway that bypasses Odintsovo to link the Moscow...

State Boosts Grip on Economy With Bank Crackdown

For some bank depositors, the second half of 2013 has been a year to increase their intimacy with the state, whether they wanted to or not.

5 Stories From Put-Upon Small Business in Moscow

While Russian officials exhort small business to pull the country out of the economic doldrums, the sector has been shriveling under the weight of bureaucratic...

Survey Underscores the Death of the New Russian

Neither heavy gold chains nor massive Rolex watches enthrall the Russian consumer as they did at the dawn of capitalism in the 1990s, although quality...

Q&A: Fate Intertwines Attorney Andrey Goltsblat and Russia's Rule of Law

Andrey Goltsblat had no burning desire to make history. "I never dreamed of becoming a lawyer, a doctor or a musician. It all happened by accident...

Pipeline Capacity Exceeds Transported Volumes Twice Over

Russia has huge gas pipeline overcapacity, its oil majors feel they are overtaxed and shale technology is over here and in operation. These were the three...

New Heliport Gives Travelers Another Option to Get to the Airport and Beyond

The battle for freedom of movement has escalated with the opening of a heliport 700 meters outside the Moscow Ring Road that aims to ferry travelers...

Russian Companies Find Market and Stepping Stone in Finland

The Russian businessmen were baffled. No matter how hard they tried to hint clearly that they were ready to grease the palm of the Finnish bureaucrat...

The Moscow Times Awards Affirm City's Evolution

Moscow's brightest stars in business and culture were honored at the first annual Moscow Times Awards on Tuesday evening, in a ceremony held at the...

Guests Gather for The Moscow Times Awards Ceremony

The winners of The Moscow Times Awards, celebrating the best achievements in culture and business life in and around Russia's capital over the last...

Sberbank Funds $2.4 Billion Construction at Crocus City

Sberbank agreed Tuesday to partly finance construction projects worth 80 billion rubles ($2.4 billion) at Moscow's Crocus City, the largest loan granted...

Ban on U.S. Dollars in Russia Lacks Parliamentary Support

Even those who worked out the bill to ban the circulation of dollars in Russia are convinced it will not pass the Duma, but said at a news conference...

Putin Takes Inputs on Tax Investigation Bill

While the Kremlin considers possible modifications to a bill that will restore investigators' power to open tax fraud cases, lobbyists said small businesses...

Government Counts on Regional Aviation to Keep Country Connected

Faced with an underdeveloped road and rail network that is expensive to build and maintain, the government is betting on regional aviation to link...

Putin Builds Hydrocarbon Infrastructure With South Korea in Seoul

President Vladimir Putin and his South Korean counterpart Park Geun-hye presided over the signing of numerous deals in Seoul on Wednesday, as Russia strives...

Moscow Strives to Make Itself a Global Financial Center

Moscow is going full-out to transform itself into an international financial center, building business centers and overhauling its regulations to present...

Russia Surpasses Europe in Shopping Mall Construction

Russia is ranked No. 1 in Europe in terms of building retail space but still has a lower ratio of shopping malls to people, according to research by Cushman...

Russian Airlines Yearn for New Rules on Electronic Devices

Airline passengers who want to use their personal electronic devices should look out the window or check the flight tracker map to be sure of their...

Moscow Expands Paid Parking Zone

Declaring its experiment successful, City Hall is expanding paid parking areas in Moscow out to the Garden Ring, while raising hourly fees, Deputy Mayor...

Battle Against Moscow Congestion Rages On

Moscow is ranked number one in a congestion index of the world's major cities and building more roads is unlikely to solve the problem, according...

Medvedev's Tight Security Clouds Innovations Forum

A high-profile Open Innovations Forum running in Moscow through the weekend could have been renamed the Closed Innovations Forum because the doors...

Moscow Paid Parking Cut Traffic by 25%, says Deputy Mayor

The number of cars entering the center has fallen by a quarter since paid parking was introduced four months ago within the Garden Ring, Deputy Mayor...

Medvedev Says $882M Ukraine Gas Debt Situation 'Critical'

Prime Minister Dmitry Medvedev said Tuesday that the situation regarding payments by Ukraine for Russian gas was "critical," during a meeting at his suburban...

20-Point Plan Stokes French-Russian Cooperation

Twenty areas for improving political and economic cooperation between Russia and France were unveiled Monday ahead of a French prime ministerial visit...

Brand Competition Reveals Progress in Marketing Communication

The Russian consumer is selective, does not trust advertising the way that he used to, demands quality but stays loyal if a chosen brand continues to meet...

Putin Has Last Crack at Yanukovych's EU Dream

Turkey is interested in joining the Customs Union of Russia, Belarus and Kazakhstan, and India also wants closer ties with the organization, President...

Aeroflot Union Leader Caught Red-Handed Denies Fraud Charges

A second member of an Aeroflot pilots' union accused of taking advantage of a pay dispute to defraud the flagship airline was remanded in custody...

Third Airline Labor Union Activist Detained for Attempted Fraud

A third activist from the Sheremetyevo Cockpit Personnel Association, or SCPA, a labor union representing airline employees, was detained and charged as...

New Property Tax Postponed Until 2015

The introduction of the widely discussed new real estate tax that is set to levy fees on property based on market-oriented evaluation, will not be implemented...

In Fight For Passengers, Railroads Invest In Stations

Russian Railways has sought out its first outside investors to modernize the infrastructure of its 353 stations across the country, in an effort to keep...

Canadian Developer to Invest $2.5Bln in Russia's Rail Stations

Canada's Trinity Development will channel $2.5 billion over the next five years to retail, housing and office development projects at four train stations...

Small Retailers Squeezed Out Of Moscow in Migrant Crackdown

Following a recent eruption of ethnically motivated street violence, Moscow's migrant-populated food markets and warehouses continue to serve as the front...

$2Bln Polypropylene Plant Opens In Siberia

Production started at one of the world's biggest polypropylene factories near Tobolsk in the Tyumen region Tuesday, an event that may transform Russia...

Polluting Baikal Paper Mill Finally Shuts Down

Having polluted the world's largest fresh water reservoir for almost half a century, the huge tattered buildings of the Baikalsk Pulp and Paper Mill...

Moscow Metro Needs a Break

Overcrowded, run-down and underfinanced, the Moscow metro has seen a series of breakdowns this year — including serious delays on Thursday — that...

Rosatom to Build Bangladesh's First Nuclear Power Plant

A subsidiary of Rosatom signed a contract with the Bangladesh Atomic Energy Commission on Wednesday to design the Rooppur nuclear power plant, the first...

Viacom Takes Control for MTV Russia Relaunch

Global media giant Viacom will relaunch its world-famous MTV channel on Russian cable and satellite networks Tuesday, part of a strategy to focus on a...

Putin Says Greenpeace Activists Aren't Pirates but Broke the Law

President Vladimir Putin said Wednesday that Greenpeace activists who attempted to storm Gazprom Neft's oil platform in the Arctic earlier in September...

International Business, North Korean Style

Russia has opened an upgraded rail link with North Korea, a first step to re-animate the Trans-Korean Mainline, which could once again unite the two countries...

Real Estate Market Continues Growth Amid Economic Slowdown

While world economies continue a slow recession, pension fund managers are taking a closer look at investing in real estate, a market which is growing...

State Banks Deny Aiding Assad's Regime

Three Russian state banks accused by U.S. senators of funding the Syrian regime denied the charges Thursday, saying the allegations were an attempt...

IT, Retail Executives Make It to the Top of Russian Business Leaders

Business in Russia is still largely dependent on the government, and state companies have traditionally dominated the ranking.

Sharonov Steps Down From City Hall

Deputy Moscow Mayor Andrei Sharonov, responsible for the city's economic policy, stepped down Tuesday, but all other top City Hall officials retained their...

SCO Against Syria Strike, Iran Sanctions

While the members of the Shanghai Cooperation Organization (SCO) largely focused their attention on Syria and Iran at a summit in Bishkek, Kyrgyzstan...

Cabinet Plans Tariff Freeze, 5% Spending Cut

Over the next three years the government will have to cut spending by at least five percent, if not more, Prime Minister Dmitry Medvedev said Thursday...