Cyprus levy directed at Russian funds

The unprecedented enforcement of a direct levy on Cypriot bank deposits, which is part of a proposed EUR 10 bln bailout scheme, will mostly hit at Russian funds deposited in the island tax haven, international media reports. ...

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Gazprom faces USD 1.17 bln fine

Russia's state-owned gas giant Gazprom is facing a fine of between USD 78 mln and USD 1.17 bln from the Federal Anti-monopoly Service (FAS) after it discovered that the gas incumbent and four of its pipeline manufacturers are engaged in price fixing, Russian business daily Vedomosti reported March 18. ...

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Russian illegal cap outflow at USD 49 bln in 2012 – Central Bank chief

Russian fiscal authorities estimate that the illegal capital outflow for 2012 may have reached some USD 49 bln, Russian Central Bank President Sergey Ignatyev, told nationwide daily Vedomosti in an interview published February 20. “Russian authorities are increasingly efficient at uncovering illegal outflow of capital, in 2012 the authorities uncovered cases of tax fraud valued at USD 49 bln,” Ignatyev said ...

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Russian authorities estimate RUB 5 bln fraud in Defense Ministry

Russian authorities investigating the illegal sale of Defense Ministry assets, estimate that RUB 5 bln could have been channeled out of the Ministry, Russian news channel RT reported February 20. “Authorities are investigating 25 separate instances of fraud in the so-called Oboronservis case involving the illegal sale of the Russian Defense Ministry’s property, Prosecutor General Yury Chaika said on Wednesd ...

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Georgia releases Russian spies

Some 190 political prisoners released on Jan. 13, 2013 from Georgian prisons were named “Russian spies and incorrigible criminals,” by Georgian president Mikhail Saakashvili, according to Radio Free Europe. ...

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