Latest Monitor Articles

GOVERNMENT MAY PEG RUBLE TO BASKET OF FOREIGN CURRENCIES.

Acting Prime Minister Viktor Chernomyrdin yesterday announced a series of emergency measures aimed at increasing federal revenue. They include tightening control over alcohol production--supposedly a state monopoly--and pressuring Russia's largest oil- and gas-producing companies to pay their taxes in dollars. Also yesterday, Reuters reported details... MORE

ROSNEFT SALE LIKELY TO BE CANCELED.

First Deputy Fuel and Energy Minister Viktor Ott called on the government yesterday to postpone its auction of Rosneft, Russia's largest oil company still in state ownership. (Itar-Tass, September 8) The government is currently making its second attempt to sell 75 percent plus one share... MORE

TATARSTAN SUSPENDS PAYMENTS TO FEDERAL BUDGET.

President Mintimer Shaimiev has announced that Tatarstan is suspending some of its payments to the federal budget. Tatarstan is one of only about twelve Russian regions that pay more to the center than they receive back in federal transfers. Shaimiev said Tatarstan has no intention... MORE

WILL YELTSIN RE-NOMINATE CHERNOMYRDIN?

Moscow is on tenterhooks, waiting for President Yeltsin to announce whether he will risk a showdown with the Duma by nominating Viktor Chernomyrdin for premier for a third and decisive time, or play it safe and nominate a compromise candidate. There is a general feeling... MORE

YELTSIN POSTPONES SUMMITS IN KAZAKHSTAN.

Russian President Boris Yeltsin yesterday postponed his official visit to Kazakhstan and the summit of the CIS Customs Union. The two events were planned to have been held in Astana and Almaty from September 8 through September 10. They are now tentatively rescheduled for October.... MORE

NAZARBAEV STRESSES INDEPENDENCE FROM RUSSIA.

Kazakhstani President Nursultan Nazarbaev stated on September 1 that his country will weather the storm of Russia's financial crisis. Echoing the earlier joint statement by the government and National Bank (NBK) (see the Monitor, August 31), Nazarbaev declared that the two countries' financial systems "divorced... MORE

IMF APPROVES MASSIVE CREDIT PROGRAM TO UKRAINE.

The International Monetary Fund's Board of Directors has given final approval to a US$2.2 billion, three-year Extended Fund Facility (EFF) to Ukraine. A first tranche, worth US$257 million, is to be disbursed immediately. Disbursement of subsequent tranches will depend on Ukraine's compliance with the reform... MORE

ANOTHER CHANGE FOR THE GROUND FORCES.

Military authorities continue to tinker with the command relationship of the Ground Forces. From 1967 until the first of this year, these troops constituted one of the five services in the Russian armed forces, with their own commander in chief. When this position was abolished,... MORE

RUSSIANS IN BALTIC REGION HIT BY RUSSIA’S CRISIS.

Latvia's Foreign Ministry is appealing to Russia to pay the pensions of tens of thousands of Russian military veterans and other retirees who reside in Latvia as Russian citizens. In Estonia, parliamentary deputies representing Russian parties are directing similar appeals to the Russian Duma. Moscow... MORE