STATE OIL MONOPOLY TO END?

Under pressure from the World Bank and IMF, Moscow will formally end the state monopoly on oil exports June 25, Kommersant-Daily reported June 21. This step is especially difficult for the Russian government which derives enormous revenues from oil exports: it has earned some $3 billion in hard currency from foreign oil sales already this year, but the international financial bodies have insisted on this liberalization as the price of further aid. There may be some delays in the implementation of this decision, however. Moscow officials have not yet set up the rules for allocating use of pipelines among the various companies.

Nezavisimaya Gazeta Tries a Comeback.