Russian Aerospace Forces Commander Viktor Bondarev said that the construction of sixth generation of jet fighters was not far off. Russia is simultaneously developing both manned and unmanned sixth-generation jet fighters. “Simultaneously, of course… Work is in progress here as well as abroad. We have an excellent aviation industry and design bureaus. I think that…
Russia’s Finance Ministry has prepared major changes to the compulsory auto liability insurance, known in Russian as OSAGO. Among other amendments, the ministry has proposed to divide OSAGO policies into three types: an “economic package” with current limits of 400,000 rubles for damage to property and 500,000 rubles for injuries, a “standard” package with limits…
In 2016-2017, Russia will export the Mil Mi-8/17 and Mi-24/35 helicopters to Angola, Mali, Nigeria and Sudan, Yury Demchenko, the head of the delegation for Russia’s arms exporter, Rosoboronexport, said. Demchenko pointed out that helicopters remained one of the most sought-after types of military hardware in Africa. In 2014-2016, Russian-made helicopters were exported to Angola,…
The Russian government may shuffle off part of the oil tax burden on consumers by raising excise duties on fuel, according to the results of a recent meeting chaired by Deputy Prime Minister Arkady Dvorkovich. The Finance Ministry initially offered to raise the rate of the Mineral Extraction Tax (MET) on oil in 2017 by…
Russian power holding Inter RAO is interested in buying assets in Latin America or Southeast Asia, Ilnar Mirsiyapov, a member of the management board, said. Inter RAO wants to acquire a significant stake of a market, Mirsiyapov said after naming countries of Latin America and Southeast Asia as markets which the company saw interesting for…
Rosinterbank, included in Russia’s 100 largest banks in terms of assets, has completely stopped providing services to its clients, the bank said. “Individual and corporate clients will not be serviced at Rosinterbank’s offices and branches starting from September 15, in order to stabilize the bank’s financial performance”, the bank’s statement said. A source reported that…
The government of the Russian Federation posted the draft decree by the Ministry of Agriculture on zeroing of the wheat export duties from September 15, at the common web-portal of legal information disclosure. According to the explanatory note, to date the reporting duties do not actually have any regulatory impact. At the same time, the…