Investors appeared unimpressed by last week's announcement that the IMF has finally decided to release the latest tranche of its current US$9.2 billion loan to Russia. Markets fell a further 5 percent on June 26 and yields on government domestic debt rose sharply, prompting Russia's... MORE

As part of the anti-crisis program launched on June 23, a package of six new tax laws was approved by the government on June 25 and submitted to the parliament the next day. Prime Minister Sergei Kirienko will address the State Duma on July 1... MORE

The main feature of the tax changes is a shift from taxing producers (who hide behind mutual arrears and barter transactions) toward consumers. Prime Minister Sergei Kirienko explained that "[m]oney should be taken wherever there is money." The initial six bills alone would, if accepted... MORE

Moscow stepped up its insistence late last week that the West put pressure on Kosovo Albanian leaders to begin talks with Belgrade authorities. That appeal came as Moscow continued to praise Yugoslav President Slobodan Milosevic for what Russian diplomats say is his adherence to pledges... MORE

A senior Russian official confessed last week that Russia would be unable to destroy its stockpile of chemical weapons and agents by April 2007, as called for by the 1992 Chemical Weapons Convention. General Stanislav Petrov--head of the military's chemical troops--said that "at least an... MORE

Russia and Argentina moved to strengthen bilateral ties late last week in both their signing a broad agreement setting out principles of relations and their outlining a package of more specific intergovernmental cooperation accords. These accords came on June 25 during a visit to Moscow... MORE

Stepashin said the Kremlin has no intention of paying ransom for the release of Valentin Vlasov, President Yeltsin's representative in Chechnya who has been held hostage since May. According to Chechen Acting Prime Minister Shamil Basaev, the kidnappers have demanded US$6 million for his release.... MORE

In the North Caucasus town of Pyatigorsk on June 27, Krasnoyarsk Krai Governor Aleksandr Lebed attended a conference, held on his initiative, entitled "A Peace Mission to the North Caucasus." Dagestan, Chechnya-Ichkeria, North Ossetia, Stavropol and Krasnodar Krais all sent delegations. According to Lebed, preparations... MORE

On June 26, the 48-year-old mayor of Nefteyugansk Vladimir Petukhov was shot dead and his bodyguard seriously injured. In recent months Petukhov, a local businessman and oil trader, had clashed with the Yukos oil company, which runs all the local oil wells and provides 90... MORE

According to NATO's Assistant Secretary-General for Political Affairs, Klaus-Peter Kleiber, the alliance "regards any 'red line' concept as incorrect." NATO officials, Kleiber said during a visit to Ukraine, "are taking an unambiguous stand on the matter during regular consultations with Russia, particularly with Foreign Minister... MORE