On Wednesday, June 25, Russian Finance Ministry published a draft resolution that softens operating conditions for Visa and MasterCard before they “acquire the status of nationally significant” card payment systems (CPS).

Russia’s Transneft has set up its own entity to ensure security of the pipelines in line with a law adopted earlier, according to the news agency Interfax.

Perekopsky brothers claim 40 million rubles of "golden parachutes" from Vkontakte social network.

According to the Rosstat materials, Russia has reduced production of alcohol and tobacco products in April of the current year.

Bank of Cyprus intends to sell Russian Uniastrum Bank as a part of the restructuring process.

VTB, the second largest bank by assets in Russia, its affiliate VTB 24 and other banks of the group refuse to render services to U.S. customers, citizens and companies.

The Board of Directors of OJSC Gazprom Neft approved the signing of sponsorship contracts with Omsk based Avangard hockey club and SKA from St. Petersburg.

Gazprom has again delayed the switch to the advance payment scheme in its contractual relations with Ukraine’s Naftogaz, this time to June 16.

Qiwi, a leading Russian payment system, has announced of a change in its board of directors, including the appearance of former Google top executive Osama Bedier along with three other new directors.

The Kalashnikov company, one of the world’s largest firearms manufacturers, has backpedaled on its earlier plans to issue a license for the production in the US.