According to the Russian Economy Ministry's forecast, Russia's inflation will amount to 0.4-0.5 percent in June 2007, Andrei Klepach, the head of the Russian Economy Ministry's macroeconomic forecasting department, told journalists. He added that this was 0.1-0.2 percentage points higher

Russian gas giant Gazprom said it could create a joint venture for the development of the Shtokman gas field. The joint company will deal with technical matter, while the Shtokman license will remain with Gazprom, Alexander Ananenkov, Deputy Chief Executive

Russia's gold and foreign currency reserves stood at $406.5 billion as of 8 June 2007, up from $403.6 billion a week before, the Central Bank of Russia has reported. The Central Bank expected the reserves to rise by $92 billion

The assets of the Russian banking system may grow six-fold by 2020 and VTB's assets may surge 3.5 times by 2010, the bank's President Andrei Kostin told the 11th St. Petersburg International Economic Forum. He believes that Russia will be