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. Last Updated: 07/27/2016

10/30/2008

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Oil Producers Warn of Output Cuts

Executives at two of the country’s largest oil producers said Wednesday that output would fall next year if prices remain low and the state doesn’t provide further tax cuts, in a sign the financial crisis has put the energy industry on edge.

RusAl Secures $4.5Bln Bailout

In the biggest state bailout yet, United Company RusAl will receive $4.5 billion to refinance a Western loan coming due this week, news reports said late Wednesday.

Closed-Door Trials Come Under Fire

When Moscow notary Fail Sadretdinov went to trial on charges of throwing excrement in a prosecutor's face and attacking two other officials in an earlier trial, prosecutors demanded that the court proceedings be closed to protect the prosecutor's dignity.

Mandelson Says Russia Riding High in Crisis

Russia is well-equipped to withstand the financial crisis, and foreign investors are not jumping ship, British Business Secretary Peter Mandelson said Wednesday as he wrapped up a four-day visit that showed significant improvement in London's troubled ties with Moscow.

London Court Rules In Abramovich's Favor

Combined Reports
Billionaire Roman Abramovich won two London court rulings Wednesday in an ownership dispute with oil producer Yugraneft over a joint venture to develop Siberian oil fields.

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