In a sign of confidence in Russia's financial prospects, investors yesterday exchanged nearly US$6 billion in short-term domestic treasury bills (known by the Russian acronym of GKOs) for longer-term foreign currency bonds (seven- and twenty-year eurobonds and dollar bonds). The exchange, undertaken on IMF advice,... MORE

The special commission of the State Duma for the impeachment of President Yeltsin has set July 27 for hearings on the first item on the charge sheet. This concerns Yeltsin's role in the agreement to dissolve the USSR, signed by Yeltsin and the leaders of... MORE

A nearly three-week-old spy wrangle between Russia and South Korea took an unexpected turn yesterday when Seoul recalled five of its diplomats from Russia. Reports in South Korea and Russia differed as to the precise reasons for the move, but in general they suggested that... MORE

A controversial deal under which Russia is to supply S-300 air-defense missiles to Cyprus was back in the news yesterday as both Greek and Turkish Cypriots marked the anniversary of Turkey's 1974 invasion of the island. The ceremonies--celebratory in the Turkish Cypriot north and solemn... MORE

Russian defense officials announced yesterday that they had delivered three attack helicopters to Sri Lanka this month and were beginning work on a project to build three new frigates for India. The helicopter announcement came from the Rostvertol factory in Rostov-on-Don, which had manufactured the... MORE

Officials from Russia's and India's nuclear power industries signed a contract in Moscow yesterday calling for Moscow to prepare a design for a nuclear power plant to be built in Kudankulam, India. Officials of Russia's Ministry of Atomic Energy said that the contract is a... MORE

Chechen President Aslan Maskhadov has appointed former acting Prime Minister Shamil Basaev as deputy commander-in-chief of the republic's armed forces. Basaev and his associates have been charged with mobilizing 5,000 reservists of the Chechen army, who are to maintain order in the republic during the... MORE

In Riga yesterday, the European Union (EU)'s External Affairs Commissioner Hans van den Broek offered assurances that Latvia would face no further demands regarding citizenship and related issues, once the changes to the citizenship law take effect. The EU does not ask Latvia to exceed... MORE

With 105 votes in favor and only six opposed, Russia's Federation Council has issued an appeal to the parliaments of Europe and North America, defending the Belarusan authorities' conduct in the recent dispute over diplomatic residences in Minsk. Russia's upper chamber condemns the "destructive response"... MORE

Returning from negotiations with Gazprom's management in Moscow, Moldovan Deputy Prime Minister Ion Sturza announced that the Russian company has consented to continue gas deliveries to Moldova beyond the August 1 deadline for repayment, reschedule Moldova's debts and--most significantly--agreed in a protocol that Moldova may... MORE