The Russian experts are looking for the positive aspects of Russia’s little chances to enter the WTO (World Trade Organization) in the nearest future taking to account the military conflict in Georgia.

Russia and its partners in the Shanghai Cooperation Organization (SCO) intend to launch joint projects in agriculture, high technologies, energy and in the social sphere.

Russia’s Prime Minister Vladimir Putin declared that in 2008, the Russian government wouldn’t increase the stake of the capital inflow to the economy, since “it poses the additional problems” with the inflation and the volume of money supply. Russia’s Central Bank (CB) and the government can afford such strategy for a year or two, but no later than 2011, though, from the end of 2009 the level of the capital inflow will determine both the inflation and the ruble rate.

United Oil Group Ltd (UOG), the division of En+ Group owned by Oleg Deripaska, and Japan Oil, Gas and Metals National Corporation (JOGMEC) signed a joint venture agreement to implement projects in the area of hydrocarbons exploration, prospecting and extraction on the territory of Russia

The regular calculations of the international reserves (as of August, 22) published by the Central Bank demonstrated that the capital outflow from Russia continues and totals no less than $3 billion. On August, 28 the rates at the interbank market reached the records of August, 11 - the market was conducting payments of the income tax. Obviously, the Russian Ministry of Finance and the Central Bank will deal with the aggravating problem of the liquidity surplus via extension of the terms of the budgetary deposits in the banking system

After Russia’s president Dmitry Medvedev recognized South Ossetia and Abkhazia’s independence, the confrontation with the West intensified, and it carries either political and economic risks for Russia. Russia can somewhat face the economic isolation from the West. However, it doesn’t go about any termination of the cooperation at all, since it is completely unfavorable for both parties. Even under the worst scenario, Russia can reckon on Asia and the internal resources.

Rosatom’s head Sergey Kiriyenko signed the order “On organization of works for construction of the Baltic Nuclear Power Plant” in the Kaliningrad region. 49% of the plant will be sold to a private investor. The Russian company is already holding talks with the western companies that are already operating at the Russian energy market. Rosatom offers the financial participation in the project only, therefore the company guarantees the return of investments.

On July, 24, Russia’s prime minister Vladimir Putin held the meeting devoted to the metallurgical industry, as a result of which Mechel faced the problems. According to the protocol of the meeting, the state that until recently didn’t pay any special attention to the metallurgy, decided to “come back” to this industry. The core task is the reorientation of the metallurgical companies to the internal market due to the principles revision of granting licenses for the key resources.

Republic of Kalmykia’s government has established the company JSC “Manychskiy Ship Canal” that will be engaged in the preliminary researches for realization of the project on the canal construction between the Caspian and Azov Seas.

In 1H 2008 the banks fixed the record growth of unallocated bullion accounts’ volumes, as the interest of physical entities grew six-nine times, bankers state. Private investors seek salvation in gold and other precious metals from high inflation and the stock market’s crisis