Russia: auto insurance reform being prepared

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…

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Russia to export helicopters to four African countries in 2016-2017

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,…

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Russia: Rosinterbank stops servicing clients

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…

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