Present and past owners of OAO Bank Rossiya, the only company hit with sanctions for Russia’s takeover of Crimea, include three billionaires, two proteges of a Nobel Laureate and, according to a Spanish prosecutor, one possible mob boss.
Russia will dip into its rainy-day wealth funds next year to finance Crimea, the Black Sea region absorbed from Ukraine, even as the economy faces stagnation, said four people with knowledge of government discussions.
Russia, the world’s biggest energy exporter, expects the price of oil shipments to the global market to start decreasing next year as governments begin to withdraw stimulus measures, Finance Minister Alexei Kudrin said.
An adviser to Dmitry Medvedev said the outgoing Russian president should abandon plans to become premier and make way for the man he fired last year as finance minister, Alexei Kudrin, who would do a better job.
Russia’s net capital outflow will shrink further and may be “close to a zero” for 2010, while the ruble will be stronger than expected because of higher oil prices, Finance Minister Alexei Kudrin said.
Russia’s central bank shouldn’t take steps to offset faster inflation because “monetary measures” won’t help contain price growth caused by drought and crop losses, Finance Minister Alexei Kudrin said.
Russia’s political system is “flawed” and the government needs to decentralize power and regulate more efficiently to lure greater numbers of investors, said Alexei Kudrin, the former finance minister.