Vladimir Putin is more likely to sign a 30-year deal to supply pipeline gas to China next month after more than a decade of false starts because the crisis in Ukraine is forcing Russia to look for markets outside Europe.
Russia’s largest company OAO Gazprom will stop marketing to U.S. and European investors after the Crimea crisis and work to increase bond and shareholders from the Middle East, Latin America and Asia, especially China.
Russian President Dmitry Medvedev plans to submit orders this week to remove government officials as chairmen of state companies in industries they regulate, said Arkady Dvorkovich , his chief economic aide.
United Co. Rusal, the largest aluminum producer, said new rules on warehousing threaten to worsen a supply shortfall, helping drive up the premiums buyers pay for swift delivery to 50 percent of the market price.
Ziyavudin Magomedov became a billionaire with the help of state contracts during the ascent of former Russian President Dmitry Medvedev, whose deputy was the businessman’s college friend. Now Medvedev is down, Vladimir Putin is up, and Magomedov’s fortunes are waning.