TRUCE DECLARED IN BANK WAR.

In a joint statement issued on July 16 by Unikombank and the Russian Central Bank, Unikombank admitted that some of its officials had committed irregularities in handling the $500 million of loans which were the target of accusations of wrongdoing by Central Bank president Sergei Dubinin a week ago. It was also announced that Unikombank’s first deputy president, Andrei Gloriozov, is resigning. The statement represents something of a climb-down for Dubinin: some are suggesting that the affair might cost him his job as Russia’s top banker. (Kommersant-daily, July 17)

Russian Tax Concerns.