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With gold prices hitting all time highs should Russia to be thinking of selling some of its reserves?

Temperature rising for Russian economy – but has it overheated? On day two of the St. Petersburg Forum, RT has interviewed officials and businessmen on one of the most pressing economic issues facing modern Russia: whether its economy has overheated, and if it has, what could be...

Gazprom eyes Alaskan pipeline Gazprom has unveiled an ambitious plan to build a pipeline to carry natural gas from Alaska to other parts of the United States. The company’s CEO Alexey Miller used St. Petersburg’s International Economic Forum to...

Gas will be sold in roubles: Gazprom CEO Gazprom aspires to sell gas for roubles outside of Russia after trade on the St. Petersburg bourse starts, the head of the oil, giant Alexey Miller, has said. Its launch is planned for 2009.

Pay-per-pound airline tackles fuel crisis? With fuel prices skyrocketing and angry truck drivers paralysing European cities, companies are looking at new ways to stay afloat. An airline in the U.S. claims to use a pay-per-pound fare scheme, which means cheaper...

Russia unveils new jet The Sukhoi Superjet 100 will be presented at the St. Petersburg Economic Forum. Russia’s major aircraft holding already has 73 orders for its new aircraft.

Chubais refuses to desert Russia The head of former RAO UES Anatoly Chubais has revealed he will stay on in Russia’s power sector. He had earlier announced a wish to cool it for two years after the liquidation of his company on June 1.

Russia has no choice over gas prices: Foreign Minister Russia's Foreign Minister Sergey Lavrov has expanded on the reason for a gas prices to Ukraine to almost double next year.

U.S.-Russia trade not reaching its potential The volume of U.S.-Russia trade should be much bigger than it is, according to U.S. Commerce Secretary Carlos Gutierrez. He was speaking after attending a roundtable on bilateral trade at the St. Petersburg...

Bell tolls for Russia’s power monopoly The Moscow Stock Exchange has stopped trading shares of the newly privatised former Russian energy monopoly UES. Meanwhile, the head of the holding has said he will stay on in the country’s power sector after his...

Russia aims to top global electricity market by 2018 Within a decade the newly privatised Russian electricity market will become the most effective in the world, according to the head of the country’s power monopoly.

Russian oil industry get more tax breaks With falling domestic output in Russia, the government is pushing to cut oil taxes in the industry. Rosneft, a leading Russian oil producer, has held a meeting attended by leading representatives of the oil industry.

BP chief’s 3-point plan for Russian oil sector The chief executive of BP Tony Hayward has called on Russia to respect property rights and be consistent in its application of the law. The news comes as TNK-BP authorities say their CEO Robert Dudley was summoned for...

New car plant in St Pete’s Work has begun on the construction of a new car manufacturing plant in St Petersburg. Hyundai is the latest company to join the ranks of the many foreign automotive firms in the Leningrad region.

Coal price hikes may affect Russia’s gas exports New price hikes for steam coal have pushed it above $US150 per tonne. While coal producers enjoy high revenues and create new investment projects, energy producers are facing new costs.

Tax havens lose appeal for wealthy Offshore tax heavens are losing their attraction for wealthy Russians. Financial gurus say Russia’s favourable tax regime and commodities boom induce the rich to invest in domestic assets.

World gathers for St. Pete Economic Forum More than 120 delegations from every corner of the world are converging on Saint Petersburg for the city’s annual International Economic Forum, which starts on Friday. Organisers hope signed contracts will surpass last...

Russia’s SMR heads to Hong Kong bourse Russian miner SMR (Strikeforce Mining and Resources Ltd) plans to raise about $US200 MLN by floating on the Hong Kong stock exchange (HKEx). The head of the bourse has arrived to Moscow to promote the Chinese exchange.

Market backs TNK-BP despite profit drop Russo-British oil giant TNK-BP, beset by shareholders’ disputes, has seen a 21% drop in profit. Despite the ongoing conflict, shares of the venture are rising on the RTS stock exchange.

Russia urged to boost foreign work quotas The quota system which limits the number of foreign workers in Russia has come under fire for hampering the economy and damaging growth. The Association of European Businesses in Russia wants a more efficient system.

High hopes for St. Pete’s Economic Forum Russia’s Finance minister Alexey Kudrin has told RT that he’s on the look-out for new and interesting solutions at the upcoming St. Petersburg Economic Forum.

Russia to supply Europe with low-cost cars Hyundai will produce a new budget car at its factory near St. Petersburg, starting from 2011. The car is planned for not only Russian consumers, but also those in Western Europe.

High inflation to boost oil wages Inflation in Russia may reach 14% this year and the risk of the economy overheating is growing, according to the International Monetary Fund (IMF). The head of Schlumberger has told RT that the oil and gas industry is...

Russia regulates foreign investment in 42 ‘strategic’ sectors Vladimir Putin has signed a law giving him final say on foreign bids to buy Russian companies in 42 ‘strategic’ sectors including oil, gas, media and telecoms. He insists the bill is designed to help – not...

Greece works towards easier visas for Russians The third Greco-Russian business forum has been held in Moscow. The event is aimed at improving commercial ties between the two countries.

Suits head to St Pete for business forum The international business community is keenly anticipating the next St. Petersburg Economic Forum, which kicks off this Friday in Russia’s northern capital. Last year more than 9,000 people took part in the three-day...

Three trapped coal miners found dead in Siberia Three of five miners still trapped in a coal mine in the Siberian Kemerovo region have been found dead. Rescuers are continuing to search for the two men still missing.

Russia dubious over parity in gas prices Russia will delay bringing domestic gas prices level with export prices for at least four years as the debate about the need to raise prices is still raging on in Russia.

Russian airlines switch to e-tickets Most Russian airlines will switch to e-ticketing on June 1, the international deadline for carriers to make the changeover.

Brits and Russians divided over oil chief The row between oil major BP and its Russian joint venture TNK-BP over the CEO is gaining pace. The conflict has deepened after BP rejected the Russians' demand to replace TNK-BP's long-serving chief, Robert Dudley.

Mobile giant's head promoted One of Russia’s biggest conglomerates Sistema has appointed Mobile TeleSystems head Leonid Melamed as its new CEO. The announcement came on the day Eastern Europe’s biggest mobile operator launched Third Generation (3G)...

Soaring inflation threatens economy: comments

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