Using Western accountingstandards, one-third of Russia's 2,568 banks lost money last year,Kommersant-Daily reported July 14. But Russian rules arelooser: under Russian accounting procedures, only one-fifth weresaid to be in the red, and only 71 Russian banks have lost theirlicenses in the past year. Economics Ministry... MORE

As approvedby the Duma, the new election bill will allow local officialsto gerrymander their districts and control the access of observersto the counting of votes, both of which will open the way to fraud,Ogonyek (no. 28) and Echo Radio reported. Duma Calls on Government to... MORE

In a resolution passed July 14, the Duma urged the governmentto pay its debts to the defense sector lest the country's defenseindustry collapse, Russian radio reported July 14. The deputiesalso called on Moscow to provide aid to Abkhazia, and sharplycriticized Federation Council chairman Vladimir Shumeiko's... MORE

The Duma failed topass either of two versions of a bill that would delimit the functionsof the central and regional governments, Russian television reportedJuly 15. Opponents said that the two versions both contradictedexisting agreements between Moscow and some of the regions. One-Third of Russian Banks... MORE

Prosecutorsin Budennovsk have now established the names of 20 of the 120Chechen fighters who seized hostages there a month ago, Ostankinotelevision reported July 14. The officials said that they believedthey would be able to identify at least 10 more in the near futureand said that... MORE

The Duma has passed legislationwhich defines and imposes criminal sanctions on a variety of activitiesassociated with organized crime, Itar-Tass reported July 13. Butthe bill also limits the number of law enforcement agencies andtheir subordinate parts which are to deal with organized crime.These latter provisions are... MORE

The Russian Duma gave preliminaryapproval to a bill that would set the rules for the privatizationof land, and would allow land to be held either by the governmentor by private citizens, Russian television reported July 14. Sucha land code is needed to provide a foundation... MORE

Inaddition to its massive direct costs, the Russian interventionin Chechnya has created a serious bottleneck for Russia's oilindustry, PIA-Interfax reported July 16. Grozny's now-destroyedMolot plant was the only Russian producer of certain kinds ofhydraulic oil extraction equipment; until it is rebuilt, Russianfirms will have to... MORE

Newinterior minister Anatoly Kulikov told Moskovsky komsomoletsJuly 14 that Moscow had made its first efforts to talk tothe Chechens in February, and that the Chechens had themselvessought contacts in early June, even before Budennovsk. He saidthat Moscow wanted to find peace now before Chechen presidentDzhokhar... MORE

VladimirLukin, former Russian ambassador to Washington and currently chairmanof the Duma's Foreign Affairs committee told Segodnya July14 that NATO's Partnership for Peace program was "cunningly"designed to weaken Russian ties with the former Soviet republics.He also said that Russian demands for participating in NATO reflecteda desire... MORE