Surgut Neftegaz appears to have vastly overpaid for OMV's stake in MOL. The Russian company bought the 21.2 percent stake for 1.4 billion Euros on March 30 on the Budapest stock exchange. The average purchase price per share was 19,200 Hungarian Forint, almost double the... MORE

The Kremlin-connected oil company Surgut Neftegaz has surreptitiously bought Austrian OMV's entire 21.2 percent stake in Hungary's MOL Oil and Gas Company. European Union authorities, the privately owned MOL, and Hungary are aghast at Surgut's move and OMV's collusion with it. Budapest and Brussels were... MORE

On April 1 the first face-to-face meeting of presidents Barrack Obama and Dmitry Medvedev took place before the G20 summit in London. In an official joint statement after their meeting Obama and Medvedev announced their intention to "move beyond Cold War mentalities" and work together... MORE

On March 27 Russia's state owned gas monopoly Gazprom signed a memorandum of understanding with Azerbaijan's state-owned oil and Gas Company, SOCAR, which would provide for deliveries of Azeri gas to Russia starting in January 2010. The report in the Russian newspaper Vedomosti on March... MORE

Russian President Dmitry Medvedev, having recently reaffirmed his support for the military reform and modernization program, has declared that the country's economic challenges will not derail this process. Several factors have now emerged as key to this reform agenda, focussing on increasing the combat readiness... MORE

The intensity of energy-political conflicts in Europe has been subsiding since the Russian-Ukrainian "gas war" in January, but last week Moscow launched a new offensive aiming at three crucial targets: Turkey, Turkmenistan and Ukraine. Leaders of major European states paid scant attention, focusing instead on... MORE

The Ukrainian - EU agreement on renovating the main Ukrainian gas trunk pipeline signed in Brussels on March 23 was greeted with a virulent reaction from Moscow. Russian Prime Minister Vladimir Putin, who runs his countries gas sector with an iron fist, threatened to "review"... MORE

President Dmitry Medvedev chaired a Security Council meeting this week in the Kremlin, with Russia's de facto ruler, Prime Minister Vladimir Putin, present, to consider a specific publicly stated agenda: the approval of the draft text of a new "National Security Strategy of the Russian... MORE

On March 23, 2009 the Moscow City Court ruled that Semion Mogilevich, also known as Sergiy Shneider, will remain in prison until May 23 while investigators continue to examine his case. (Kommersant Daily, March 24). This is the third extension of his detention the court... MORE

Russian President Dmitry Medvedev's March 18 meeting with Moldovan President Vladimir Voronin and Transnistria leader Igor Smirnov (EDM, March 20) was designed to mark a qualitatively new stage in the long-running negotiations on the Transnistria conflict. While continuing to block the conflict resolution negotiations, Russia... MORE