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Moldova Asks Moscow to Reconsider Booze Ban

Moldova's prime minister on Wednesday asked Russia to join in talks about reversing Moscow's ban on imports of Moldovan wine.

Bach Becomes IOC Head Amid Sochi Olympics Controversy

The International Olympic Committee (IOC) on Tuesday elected German fencing champion Thomas Bach as its new president as tensions remain high around...

Report Sees Possible Economic Upturn

The Russian economy might see a slight pickup by the end of this year driven by expanding investment and a possible easing of monetary policy by the...

Syria and BRICS Mark Start of G20 Summit

A military strike in Syria would have a destructive effect on the global economy, sending oil prices up, China warned in a gesture of support to President...

Putin Doesn't Rule Out Support for Syria Strike

As the leaders of the world's major economies are flocking to St. Petersburg for the G20 summit, scheduled to begin Thursday, President Vladimir Putin...

Moscow Behind European Capitals in Terms of Life Quality

Despite the government's ongoing efforts to lure foreign investors to Moscow, the city remains behind most European capitals in terms of the quality...

Housing Affordability Remains Elusive

Despite reports of steadily increasing personal income, saving up to buy an apartment remains a major challenge for most Russians as housing here...

Uralkali Owner Wanted, Faces 10 Years in Prison

Billionaire Suleiman Kerimov, the largest shareholder of Russian potash giant Uralkali, has been placed on an international wanted list and faces up...

Belarus to Prosecute Uralkali Owner

The conflict around Uralkali's breakup with its Belarussian partner took another dramatic twist Thursday after Minsk announced their intention to open...

Uralkali Arrest Ratchets Up Moscow-Minsk Tension

The Russian Foreign Ministry warned Tuesday that detention of the chief executive of potash giant Uralkali in Minsk could cause Moscow's relations...

Road Project Brings Hope and Problems

The Kremlin's move to revive ambitious Luzhkov-era plan to build a gigantic circular highway 50 kilometers beyond the Moscow Ring Road is bringing...

Sberbank to Finance Commodity Trading

Two major traders on Thursday welcomed Sberbank as a new player in financing commodity supplies after the lender announced its plans to get on the...

Kremlin Aide Threatens End of Free Trade With Ukraine

Russia could annul a free trade regime with Ukraine and scrap joint projects in a number of industries if Kiev signs an association agreement with...

Gorky Park Prepares for Another Radical Makeover

Groups of workers squatting on their haunches surrounded by piles of sand and broken tarmac is a common picture for downtown Moscow these days.

Russian Investors Flock to Virgin Islands After Cypriot Crisis

The British Virgin Islands accounted for 47 percent of total investments by Russian residents abroad in January through March.

Sovereign Funds to Finance Road

The Russian Direct Investment Fund could provide $1.8 billion for the project, and foreign sovereign funds will also take part.

Economic Growth Slows Again, Sparking Recession Fears

Russia has recorded another quarterly decline in its economic growth rate, fueling concerns about a possible recession and casting doubt on President...

Sobyanin Daughter's Apartment Triggers Controversy

A seven-story apartment complex on a quiet Moscow street just a five minute walk from the Cabinet building is widely known as the White House, not...

Onexim Mulls Buying Stake in Svyaznoy

Billionaire Mikhail Prokhorov's Onexim Group is considering buying a 50 percent stake in cell phone retailer Svyaznoy in a deal that would allow Onexim...

Hungarian Trade Office Deal Probed

Investigators opened a criminal case into the purchase of a former building of the Hungarian trade office in downtown Moscow by the Regional Development...

37 Businessmen Challenge Kremlin by Openly Backing Navalny

More than 30 business owners and top executives have come together in support of opposition mayoral candidate Alexei Navalny in a country where the government...

TV Launch Prompts Shakeup at Izvestia

The newspaper Izvestia, one of the oldest brands in Russia's media industry, is facing its second significant reshuffle in two years following an announcement...

Expats Shun Housing Despite Lower Costs

Foreigners buying high-end apartments in Moscow have to pay the lowest associated costs compared with other world capitals, according to a survey released...

Owners of Movie Rights Have No Luck With New Anti-Piracy Law

Hours after a new law targeting online piracy went into effect last week, it became clear that it was having problems as claimant after claimant was...

Skolkovo Foundation to Get $15Bln in 2013-2020

Despite the controversy around the ongoing corruption probe into the Skolkovo Foundation, it will get over 500 billion rubles ($15 billion) in state...

IT Firms See Risks in State Regulation

A highly contested law allowing the courts to block online resources suspected of having pirated content came into force on Thursday amid claims...

Potash Giants End Alliance, Market in Turmoil

The breakdown of Uralkali's joint venture with Belaruskali has been called a "revolution" on the potash fertilizer market.

Sobyanin Plans Largest Park in Europe Amid Mayoral Race

As the mayoral race came into full swing, acting Mayor Sergei Sobyanin has promised that Moscow would get the largest city park in Europe.

Capital Inflow Slows Following Navalny Verdict

Foreign investors have been wary of purchasing Russian securities in the wake of the verdict against whistleblower Alexei Navalny, with capital inflow...

Moscow Ranked Second Most Costly City for Expats

A popular post that appeared in Russian social networks a while back is likely to hit home with anyone who has purchased substandard groceries in Moscow...

G20 Ministers Focus on Tax Evasion, Stimulus Measures

The fight against tax evasion by multinational corporations and measures to ensure recovery amid the global economic turbulence came into the limelight...

Navalny Sentence a Blow to Business

The Russian stock market reacted pessimistically Thursday following the ruling of a regional court that sentenced opposition leader Alexei Navalny to five...

Finance Ministry Wants to Limit Welfare Fund Use on Infrastructure Projects

The Finance Ministry on Wednesday criticized President Vladimir Putin's idea to use up to half of the $86.5 billion stored in the National Welfare...

Medvedev Seeks Higher Domestic Demand for Steel

Prime Minister Dmitry Medvedev on Tuesday pushed for boosting domestic demand for iron and steel amid the global economic turbulence and better protecting...

Expectations High for New Moscow One Year On

A little over a year after the territory of the city of Moscow more than doubled in size, real estate prices are stabilizing, and expectations for improving...

Snowden Calls Meeting at Sheremetyevo Airport

Former U.S. intelligence analyst Edward Snowden on Friday invited representatives of Russian and international human rights organizations and lawyers...

Tax Holiday in the Works for Small Entrepreneurs

Individual entrepreneurs starting businesses from scratch are soon likely to be exempted from paying taxes for two years, after Prime Minister Dmitry...

Audit Chamber Says Evraz Unit Owes $600M of Tax for Undermining

A coal mining subsidiary of steel giant Evraz owes the federal budget over 20 billion rubles ($600 million) in taxes, an investigation by the Audit...

Rising Financial Literacy among Russians is a State Priority

The name Lyonya Golubkov is well-known to many Russians from the 1990s television advertising campaign that encouraged millions of people to put their...

Audit Chamber Says Trade Discrimination Against Russia Still a Problem

Despite its accession to the World Trade Organization last year, Russia has a long way to go before it benefits from membership, with the high level...

Island Properties Bring Customers in From the Cold

A new real estate trend sees wealthy Russians purchasing their own floating islands, but with prices from $10 million, some opt to rent.

Laboring in Sochi No Slice of Heaven

The problems on Ruslan Zokhidov's mind are not typical for a young man of his age: he is the least likely person to be found nattily dressed at a...

Putin Fields Questions in Nationwide Call-In Show (Blog)

Moscow Times reporters ran a live blog on President Vladimir Putin's 11th televised call-in show, the first since he returned to the presidency last...

Sberbank Forum Assembles Old Friends and New Problems

Personal memories mixed with hot discussions about the prospects of the global economy Thursday as high-profile visitors like former British Prime Minister...

Sale of VTB Stake for $3Bln Expected in Months

The government will proceed with its ambitious privatization plans despite challenging market conditions, Federal Property Management Agency chief Olga...

Cabinet Under Fire After Putin Threatens Reshuffle

The Cabinet came under attack from State Duma deputies Wednesday as Prime Minister Dmitry Medvedev addressed the lower house of parliament for the first...

Moscow and Washington Find Commonality in Real Estate

Moscow has debuted on the list of world capitals with the largest amount of quarterly commercial real estate investment after it saw a total of $3...

Q&A: Ritz General Manager Allan Federer Enjoys Moscow Reception

Sitting in a quiet restaurant at his hotel a stone's throw from the Kremlin, Allan Federer pours himself green tea from a snow-white ceramic teapot...

Steel Market Could Begin Recovery This Year

Hit by Europe's debt crisis, global steel demand is likely to start recovering this year driven by emerging economies like China and Russia, with the pick...

Russian Post Seeks Customs Help Clearing 500 Tons of Parcels

Russian Post demanded on Tuesday an increase in the number of customs officers in airports and its offices handling international mail after about...

Topless Women, Gay Rights Activists Greet Putin in Europe

President Vladimir Putin's visit to Europe made headlines worldwide on Monday after hundreds of protesters took to the streets in Hanover and Amsterdam...

Putin to Open Russian Pavilion at Hanover Show

Foreign investors attending the opening of the Russian pavilion at the international commercial exposition that kicks off in Hanover, Germany on Monday...

Sochi Hotel Room Seekers Come in Last Place

The paint on the walls of similarly designed hotels surrounded by the picturesque Caucasus Mountains at the Rosa Khutor ski resort built by billionaire...

Sberbank, VTB-24 Brush Aside Cypriot Crisis Concerns

Sberbank and VTB-24 dismissed concerns Thursday that the Cypriot crisis could negatively affect their financial performance amid reports that big clients...

Medvedev Calls Cyprus Plan 'Absurd'

Prime Minister Dmitry Medvedev on Thursday intensified his criticism of a plan by European financial authorities to rescue the Cypriot economy, labeling...

Cypriot Finance Minister Departs as Deadline Looms

Cyprus failed to strike a deal to secure financial aid from Moscow, with the delegation lead by Finance Minister Michalis Sarris heading home Friday...

Government Finalizing Luxury Tax Plans

The government has proposed that a tax on luxury vehicles be calculated based on the car's price and brand, not its engine capacity, as had been initially...

Cypriot Finance Minister in Moscow to Propose Assets-for-Bailout Deal

Cypriot Finance Minister Michalis Sarris plans to offer a wide range of benefits to Russia in exchange for its help to rescue the island's financial...

Russian Lenders Face Billions in Losses Due to Cypriot Levy

The proposal by the Cypriot authorities to introduce a levy on the country's bank deposits as part of a plan to bail out its economy drew harsh...

Q&A: Ambassador McDonagh Well-Versed in Trade and Spirit

While Irishmen around the world are looking forward to the St. Patrick's Day bash on Sunday, Philip McDonagh is preparing for a busy weekend in Moscow...

Russia Remains in Last Place for Public Trust

The level of trust in government officials and business executives remains dramatically low in Russia, with most residents saying they are more inclined...

De Beers Ex-CEO Becomes Norilsk Chairman

The shareholders of Norilsk Nickel reached a landmark deal Monday, with a former De Beers chief executive being elected as the nickel producer's chairman...

Glass and Steel Loom High Above Moscow Countryside

If you own a dacha in the picturesque countryside near Moscow you might find yourself surrounded by mountains of glass and concrete in the future...

Czechs Start Construction of $910M Business Park in Expanded Moscow

A Czech development group on Wednesday announced plans to invest more than 700 million euros ($910 million) in a project to build a business park in expanded...

Severstal 2012 Net Down 63% to $762M

Billionaire Alexei Mordashov's Severstal saw a 63 percent drop in net profit last year to $762 million as a result of weak metal prices and a decline...

Unrest Looms on RusAl Optimization Plans

The world’s largest aluminum-maker, RusAl, announced plans Monday to cut output by 7 percent this year amid oversupply and a drop in metal prices, a...

Rostelecom Gains on Malofeyev Stake Sale to Rotenberg

The shares in Rostelecom gained more than 2 percent at the beginning of Friday trading outperforming the benchmark MICEX index on the news that billionaire...

Aeroflot Won't Take Baby on Board

An eccentric move by billionaire Alexander Lebedev resulted in a wave of bloggers' irony Wednesday after the banker nominated his 1-year-old son to the...

Putin Ally Chemezov Likely to Join Norilsk Board

Russian Technologies head Sergei Chemezov is likely to get a seat on Norilsk Nickel's new board of directors after majority owners agreed to support...

Largest Commercial Estate Deal Inked

The domestic commercial property market received a massive cash injection with the sale of one of Moscow's largest shopping centers, Metropolis, to Morgan...

Kremlin in Talks on LNG Exports to China

Russia is negotiating to supply liquefied natural gas to China, and the two countries expect to reach a long-coveted gas cooperation agreement within...

Bastrykin Calls for Creation of Financial Police

First there was the police. Then the traffic police and the tax police. Now Russia's top investigator wants to establish the financial police.

IMF More Upbeat Than Medvedev on GDP Growth

The International Monetary Fund took an optimistic stance at Russia's prospects Wednesday, saying that its economy could demonstrate a faster pace...

Dvorkovich Denies Resignation Rumors

Deputy Prime Minister Arkady Dvorkovich got in the spotlight Tuesday amid rumors that he might have to resign in the wake of the recent scandals in the...

OECD Accession Progressing Slowly but Surely

The head of the Organization for Economic Cooperation and Development promised Friday that accession to the club of the world's most economically...

$7Bln Business Travel Market Set to Boom

The country's $7 billion market for business travel is likely to grow over the next few years, with domestic and foreign companies saying their executives...

Even Russians Need a Visa for Sochi

If you're the lucky owner of tickets for the most popular competitions at next year's Winter Olympics in Sochi, then you must be a holder of a Visa...

Public Satisfied with State's Efforts to Attract Foreign Investment

One-fifth of Russians believe that doing business in the country is easier for foreigners than for local businessmen, a survey has revealed.

Probe Opened Over Yves Rocher Disclosure in Navalny Case

The Investigative Committee opened a probe against Novaya Gazeta reporter Irek Murtazin, claiming that he might have revealed secret details of the investigation...

Internet Leads in Advertising Growth

The amount spent on advertising in 2012 reached 297.8 billion rubles ($9.9 billion), up 13 percent from the previous year, according to figures released...

In Show of Force, Putin Sacks Olympics Official

The countrywide celebrations marking the one-year countdown to the start of the Winter Olympics in Sochi were overshadowed Thursday by a high-profile...

Sochi Scorecard: Lots of Progress, But Lots to Be Done

An inflatable 8-meter brown bear floating off into the Moscow sunset followed by applause from the stands during the closing ceremony of the1980...

Mosinzhstroi Seeks to Tap into Indian Market

Moscow's engineering and construction giant Mosinzhstroi is bidding for the right to build a $930 million elevated metro line in India in an effort...

No Obama Visit Planned Before G20, Kremlin Says

The Kremlin said Friday that it does not expect U.S. President Barack Obama to visit Russia before the Group of 20 summit in September.

Officials Call for Budget Discipline

Finance Ministry and Central Bank officials on Thursday called for strict adherence to existing budget policy, saying the measure is critical to achievement...

Qiwi Lands in Manhattan

A new wave of Russian immigrants has landed in the United States, but they represent a technical accomplishment and not huddled masses.

Sharonov Reports Progress for Business

Moscow made significant progress over the past year in easing conditions for doing business, a result that is expected to upgrade Russia in the World...

Potanin Asks Putin to Exempt Norilsk from Duties

Norilsk Nickel's new chief executive, Vladimir Potanin, asked President Vladimir Putin to exempt his company from export duties to free up approximately...

'Millionaire' Doctors Part of Solution to Demographic Problem

A total of 8,000 doctors in Russia became ruble millionaires over the last two years, as the government seeks to attract young specialists to rural...

Q&A: Nenad Pavletic Follows A Very Long Term Plan

Hit by a severe heat wave in the summer of 2010, Russia did not seem very welcoming to Nenad Pavletic, who had come to Moscow to take a new position...

Report: Kudrin on Shortlist to Become Central Bank Chairman

President Vladimir Putin is considering three candidates to replace Central Bank head Sergei Ivgnatyev, whose final term in office expires in June,...

Aeroflot Begins Wi-Fi Rollout

Aeroflot will begin to install wireless Internet in its jets this year as part of its wide-ranging program to improve service, the state-controlled...

Medvedev to Address Various Scenarios at Davos

Russian officials visiting the World Economic Forum 13 years ago were puzzled by U.S. journalist Trudy Rubin's famous question about the newly elected...

Davos Calls for Efficient State

Improving the work of the government and fighting corruption should be key priorities on Russia's reform agenda for the next few years, participants...

OECD Chief Says Accession Is a Learning Process

Accession to the Organization for Economic Cooperation and Development provides a good chance for Russia's decision-makers to identify weaknesses...

World Bank Praises 'Doing Business' Progress

Russia is on the right path to radically improve its business environment and move up 100 notches within the next five years in the global rankings...

Medvedev Wants Economy to Grow 5% Annually

Prime Minister Dmitry Medvedev on Wednesday urged the Cabinet to ensure stable economic growth of at least 5 percent a year in the near future, a goal...

Moscow Expansion Spurs Residential Market

Growing housing stock caused by Moscow's territorial expansion resulted in the city seeing an increase in the number of deals involving existing residential...

Firms Fail to Supply Arms Worth $474M

A number of defense suppliers failed to deliver weapons worth a total of about 14.5 billion rubles ($474 million) to the country’s armed forces this...

Putin Calls on AAR to Invest TNK-BP Proceeds in Russia

President Vladimir Putin on Thursday called for the billionaire owners of the Alfa-Access-Renova consortium to invest the $28 billion cash they will get...