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RUSSIA'S ECONOMY

Russian offshore zones on Russky, Oktyabrsky Islands to open in autumn, vows minister

Russia’s special administrative regions, pegged as alternatives to foreign offshore zones, will be launched on Russky Island in the Far East and on Oktyabrsky Island in the Kaliningrad Region

MOSCOW, July 10. /TASS/. Russia’s special administrative regions, pegged as alternatives to foreign offshore zones, will be launched on Russky Island in the Far East and on Oktyabrsky Island in the Kaliningrad Region in September-October 2018, Economic Development Minister Maksim Oreshkin said Tuesday.

"The mechanism will be launched in September-October," he replied when asked about the starting date of the special administrative regions in the Far East and Kaliningrad Regions.

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Large businesses show interest in Russia's Kaliningrad offshore zone

The investment inflow on the islands is expected to exceed $1 bln, First Deputy Head of the United Russia faction and one of the project’s initiators Viktor Pinsky stated. "According to our estimates, the influx of investment may surpass $1 bln," he said on Tuesday.

The State Duma (lower house) intends to adopt a package of legislative initiatives required for setting up Russian special administrative regions by the end of the spring session, Pinsky added.

Positive for business

Moscow is creating special zones on islands as part of a strategy towards the de-offshorization of Russian business.

These ‘Russian offshores’ will offer a special tax and administrative mechanism allowing companies to move to a Russian jurisdiction within a short period of time with minimum costs and fully reserved rights and obligations, Oreshkin revealed.

"Earlier de-offshorization, transferring a business from a foreign jurisdiction to a Russian one was associated with very high costs. It was necessary to liquidate a company in one jurisdiction and set it up in another. All companies’ debt obligations had to be repaid, which seriously disrupted a normal business process. Currently, a special foreign company arrangement is being formed that makes it possible to move a working holding structure from one jurisdiction to another with its operations fully preserved," Oreshkin explained.

"We do not expect a very high number of re-registrations during the first stage, though a number of groups, certain companies that will be re-registering, will set an example for other firms. I think that a successful re-registration, if it occurs for certain holding structures, will be a good example for others," he added.

According to Oreshkin, companies that will register in the special administrative regions, will not be given tax breaks. The mechanism is not being established for particular companies and is not directly connected with sanctions against Russian businesses, he noted.

Registering businesses in the special administrative regions will help create "a minor amount" of additional funds for the Russian budget, the minister noted, adding that companies that will register there will get an opportunity to be listed on Russian exchanges.

About the bills

A package of bills related to the creation and the regulatory aspects of special administrative regions on Russky Island in the Far East and on Oktyabrsky Island in the Kaliningrad Region was submitted to the State Duma on June 15.

The authors of draft legislations expect the 'Russian offshores' to become an alternative to foreign ones, and attract investments.

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Russia’s UN envoy criticizes US for double standards on AI technologies

If US continues with approaches of the past - imposing rules on others while simultaneously freeing themselves from these rules - it will repeat its historical mistakes, Russian Permanent Representative to the United Nations Vasily Nebenzya said

NATO prepares for war with Russia, Moscow takes these risks into account — senior diplomat

According to Alexander Grushko, NATO's general course poses a danger both to Russia and to the entire architecture of global and regional security

Putin's message on Moscow’s course in Syria neutral, Russians’ safety is priority — expert

According to Boris Dolgov, external actors should not be discounted either, since "Israel may well expand its zone of occupation, which may cause some kind of response"

Russia forgives Somalia's Soviet-era debt

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Missing plane’s beacon signal detected in Kamchatka

The plane is yet to be found, Kamchatka emergencies minister Sergey Lebedev said

Four new Russian regions moving toward self-sufficiency at a rapid pace — Putin

According to the head of state, tax revenues have seen a consistent increase in absolute figures

Kherson Region governor says Ukraine tries to make people leave Kherson City

According to Vladimir Saldo, Ukrainian authorities are stopping the provision of humanitarian aid to people

Witnesses confirm involvement of detained suspect in Russian general’s assassination

"The sufficiency of information about the crime and Kurbonov’s involvement is confirmed by testimony from the affected persons and eyewitnesses, crime scene examination, study of material evidence and documents, and other evidence as a whole," according to case files

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Houthi military spokesman Yahya Saria added that the unmanned aerial vehicle "has successfully reached its target"

Russia to press for return of its diplomatic property under new US government — diplomat

"We remain focused on the issue, so the new administration should be prepared that that we will constantly ‘pester’ them in that regard," Sergey Ryabkov said

Putin says Russia should have launched special op earlier

The Russian leader recalled that the 2014 events in Crimea had been spontaneous

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Lavrov explains Russia’s position on Ukrainian settlement to Swiss counterpart

"The Russian side stressed the inadmissibility of NATO’s eastwards expansion, which was among the key reasons of the current situation, which made the special military operation unavoidable," the statement reads

Strike on SBU control center response to Russian general’s assassination, expert says

The ministry clarified that Ukraine launched a missile strike against the Kamensky Integrated Plant in the Rostov Region using six US-made ATACMS missiles and four Storm Shadow cruise missiles

Putin responds to question about Russia's weakness by quoting Mark Twain

The president noted that Russia had become much stronger over the past two or three years as it became a truly sovereign country

Russia achieves key objective in Syria — Putin

According to head of state, the groups that fought against Syrian government forces have gone through major internal changes

Russia to retaliate against Ukrainian strikes, just as Putin said — Kremlin

"Russia’s position is well known, it was voiced by Putin back in St. Petersburg," Dmitry Peskov stressed

Abkhazian lawmaker accused of fatal shooting in the country’s parliament

"Lawmaker Adgur Kharazia, who fled the scene, is suspected of the shooting," acting Interior Minister Robert Kiut said

Ukrainian army floundering, while Russian forces continue to advance — Putin

"The enemy is unable to gain a foothold in the positions where it has retreated," the Russian president noted

Zelensky describes Hungarian PM’s ceasefire proposal as political PR stunt

Vladimir Zekensky claimed that "the Hungarian prime minister has no mandate to hold talks"

Oreshnik’s launch is sudden, undetectable by satellites — analyst

The range of the Oreshnik system is up to 5,500 kilometers

German president intends to dissolve Bundestag on December 27

On December 16, German Chancellor Olaf Scholz asked President Steinmeier to dissolve the Bundestag after the failure of the vote of confidence

Ukraine carries out missile strike on town of Rylsk in Russia’s Kursk Region

Acting region's governor Alexander Khinshtein stressed that the regional government would provide the necessary assistance to those injured in the attack and their families

Russian public may one day decide to bury Lenin proper, Putin speculates

The Russian president still noted that "today, especially in today’s Russia, we must not do anything that could divide the country"

West pushing Kiev to continue conflict — France’s Le Pen

Marine Le Pen told the newspaper that she believes US President-elect Donald Trump can get Russian leader Vladimir Putin and Vladimir Zelensky to hold talks and a diplomatic solution will be found

Putin says he is always ready to talk to or meet with Trump

The Russian leader noted that he did not know when he would meet with the US president-elect

Press review: Putin outlines Russia's future goals and Tehran faces energy blackout riots

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No military logic behind Ukraine’s attack on Kursk Region — Putin

Many experts have noted that Ukraine’s "operation" in the Kursk Region is ambiguous in its nature

Putin’s proposal for talks meant for Trump, not Zelensky — analyst

"Putin is ready for dialogue, Trump is ready for dialogue, but the dialogue will be hard and tough," Vladimir Zharikhin, deputy director at the Institute of CIS Countries, said

What is known about Russia’s retaliatory strike on Ukraine after attack on Rostov Region

Kiev Mayor Vitaly Klitschko reported the fires in Solomensky and Shevchenkovsky districts

Russian cancer vaccine to be free of charge — top oncologist

It is planned to launch it in general circulation in early 2025

Orban does not intend to react to Zelensky's provocations, will remain calm

The Hungarian prime minister reiterated that his proposal for a Christmas ceasefire and prisoner exchange between Ukraine and Russia remains on the table

Zelensky admits the impossibility of reclaiming Donbass, Crimea

Vladimir Zelensky responded negatively when asked whether Kiev could temporarily abandon its claims to Crimea or Donbass

As many as 70% of soldiers desert from reinforcements sent to Kurakhovo — politician

The situation is similar at several other sections of the frontline in the DPR

Russia currently holds upper hand in Ukraine conflict, Indian expert says

Nandan Unnikrishnan pointed out that Russian President Vladimir Putin "has more than once spoken about Russia’s readiness to discuss an end to the conflict"

Russia manages situation in Ukraine, while West in big trouble — US political scientist

According to John Mearsheimer, Russia has become much stronger over the past two to three years because it has managed to become "a truly sovereign country"

Ukraine will soon run out of willing fighters, Putin says

The head of state pointed out that ex-British Prime Minister Boris Johnson had said at some point that Ukraine "needs to keep fighting until the last Ukrainian"

Russia has no concerns about who attends Trump's inauguration — senior diplomat

According to Sergey Ryabkov, this issue lies "on the periphery" for Moscow, and Russia views it "detachedly"

Putin challenges West to try to intercept Oreshnik missile in Kiev

"Let them choose a target, say, in Kiev, and amass their air and missile defense systems there, while we will launch an Oreshnik missile at the target," the Russian leader said

Rutte announces launch of Command on Ukraine, calls to refrain from discussing peace

NATO secretary general claimed that Western states should focus on arms shipments to Ukraine

Scholz announces supply of IRIS-T air defense system to Ukraine

The German Chancellor recalled that the total amount of Berlin's support to Kiev stood at 37 billion euros

Russian air defenses destroy 36 Ukrainian drones over different regions

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UK unwilling to send military instructors to Ukraine for fear of Russian attacks — media

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All emergency response services are working at the site of the strike

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Hungary takes US sanctions against Gazprombank as political revenge — Szijjarto

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Special military op evolves, Russia liberates territory by kilometers — Putin

The Russian leader characterized what is happening on the line of engagement as "a classic of the development of combat operations"

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According to the Russian president, people do it "because of their impotence"

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The Russian president recalled that no Russian land troops had been deployed to Syria, with Russia having only an airbase and a naval base

Ukraine's refusal to transit Russian gas will hit EU economies hard — French expert

According to Jacques Sapir, the decision not to extend transit contracts was no surprise given the political landscape

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According to the head of state, the situation in the special military operation zone is "changing significantly"

European Union spends 130 bln euro to support Ukraine — von der Leyen

According to her, the EU accounts for 47% of weapons sent to Ukraine with around 40% being provided by the United States

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The politician emphasized that "the president of a major country should be extremely polite and amiable"

Putin calls issue of Vladimir Lenin’s burial extremely sensitive

"These are certainly not the questions to be addressed during a Q&A session or press conference," the head of state said, commenting on several remarks by a reporter

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Russia’s Battlegroup West inflicted more than 3,610 casualties on Ukrainian troops and destroyed six enemy ammunition depots in its area of responsibility over the week

Series of explosions rock central Kiev — eyewitnesses

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Putin says he gained much from former French President Jacques Chirac

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Plots and attempts to destabilize the situation in Venezuela had been "foiled by military and police units, as well as judicial and law enforcement forces," Nicolas Maduro stated

Russian troops break through Ukrainian defenses near Oskol Reservoir in Kharkov Region

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High-ranking US diplomat to visit Damascus soon — Axios

According to the portal, United States Assistant Secretary of State for Near Eastern Affairs Barbara Leaf will pay a visit to Damascus

Ukrainian forces try leaving positions southwest of DPR’s Krasnoarmeysk — security service

It is reported that Ukrainian positions in the settlement are under intense artillery fire by the Russian Armed Forces

Press review: Who benefits from Russian general's murder as Trump lacks Kremlin strategy

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Russia, Ukraine could exchange POWs by Orthodox Christmas — Hungarian PM

"About 1,000 people could return home to their families in just two or three days," the prime minister said

Kremlin spokesman clarifies Putin’s statement about Oreshnik 'duel'

"It is very important to talk about these statements by the president in the context of the question he was asked," Dmitry Peskov pointed out

Russian troops liberate two communities in Donbass region over past day

Russia’s Battlegroup Center inflicted roughly 520 casualties on Ukrainian troops and destroyed four enemy howitzers in its area of responsibility over the past day

Assad allegedly hands list of military targets over to Israel before leaving Syria — media

According to the Turkish newspaper, the former Syrian president did it to ensure his own safety

Oreshnik test launch forces London to take a step back — Russian ambassador

According to Andrey Kelin, the UK’s official reaction to the launch of the Oreshnik missile was rather vague

Russian army’s combat readiness now highest worldwide — Putin

"We are increasing production of everything necessary for our army and navy," the Russian leader said

West should consider Putin's words on Oreshnik missile duel — diplomat

Foreign Ministry Spokeswoman Maria Zakharova emphasized that the rhetoric about "inflicting a strategic defeat on Russia" is firmly rooted in the mentality of the NATO regimes not at all as hypothetical assumptions

Massacre staged by retreating Ukrainian troops in Selidovo — report

According to Maxim Grigoryev, videos of interviews with witnesses and preliminary forensic examination of the bodies indicate that most of the victims are elderly women

Diplomat calls UN rights commissioner out for hypocrisy over Kirillov killing

The Russian diplomat recalled that a few months ago, when terrorist methods were used in Lebanon to detonate pagers and other electronic devices, the high commissioner himself and OHCHR experts promptly issued condemnations, calling for a thorough investigation of the incident

Putin reflects on his talks with former German Chancellor Kohl

The Russian president praised Helmut Kohl as a "pivotal political figure of our time"

Expert predicts Russia, new Syrian authorities to establish strong ties

According to Wu Yihong, Russia will seek to retain its two military facilities in Syria

Putin describes Oreshnik missile as cutting-edge Russian weapon

While Western anti-missile systems have seen "substantial" upgrades, no one will ever be able to shoot down Oreshnik missiles, the Russian leader boasted

FACTBOX: What we know about missing An-2 plane in Russia’s Kamchatka

The An-2 airplane with two crew members and one passenger was transporting 800 kg of commercial cargo on the Milkovo - Ossora route

Armenian premier sees no reason to preserve OSCE Minsk Group

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Artyom military plant reportedly on fire after explosions in Kiev

The Artyom plant is known for producing air-to-air missiles, as well as equipment for aircraft

Ukraine to cede territory regardless of US aid — news agency

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Press review: Israel and Hamas near a truce while Zelensky drafts a new negotiation plan

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Putin shrugs off potential deployment of US THAAD missile defense systems in Ukraine

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Chad asks France to withdraw its troops by January 31, 2025

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Putin suggests Zelensky may flee abroad, says Russia would take him in

"But he will be taken care of by those people whose interests he is serving now," the Russian leader said

Outgoing US administration to continue aid to Kiev until Trump’s inauguration

US administration currently has $5.6 to help Ukraine under the PDA mechanism, and another $1.13 - under the Ukraine Security Assistance Initiative, Pentagon Press Secretary Patrick Ryder said

Orban suggests deciding on anti-Russian sanctions after Trump's inauguration — news agency

Toward the end of the EU summit, the Hungarian prime minister "surprised his colleagues" by saying he was not ready to extend the sanctions, the sources said

Baltic states threaten mass deportation of Russians, take lead in Russophobia — statement

The Foreign Ministry noted that the facts of discrimination and persecution of Russians are often ignored by the official leadership of countries and international human rights agencies, leading many victims to remain silent

Ukrainian units in Kurakhovo ordered to hold ground until Trump’s inauguration — official

According to Vladimir Rogov, Russian assault teams in the city continue to advance westward

Ukrainian unit of machine-gunners disguised as Russian soldiers shoots civilians — captive

According to Bogdan Nikitchenko, the command sends "anyone available" to the Kursk Region

Ukraine attempts to attack downtown Donetsk by long-range missiles

Preliminary information suggests that a HIMARS multiple rocket launcher was used for the attack

Scholz, Trump agree conflict in Ukraine goes on for too long

"The sides paid special attention to the issues of security policy in Europe," German Government Spokesman Steffen Hebestreit said

During Maduro’s inauguration, Russia to be represented at due level — diplomat

The invitation was sent to Russian President Vladimir Putin

Turkish president calls on West to stop Israel in Syria before it’s too late

"All international mechanisms need to be effectively employed in order to prevent Israel from exploiting the situation in Syria," Recep Tayyip Erdogan said

Russia to retaliate to Kiev’s attack by Western missiles on Rostov Region — top brass

The attack was carried out by six US-made ATACMS operational-tactical missiles and four Storm Shadow air-launched cruise missiles

Russian, Uzbek security agents work to identify accomplices in general’s killing in Moscow

"The special services of the Republic of Uzbekistan are doing all they can to provide assistance," the agency said

Russia's ideas on settlement in Ukraine stem from practical needs — senior diplomat

On November 27, US President-elect Donald Trump nominated Kellogg to be his assistant and US special envoy for Ukraine and Russia

Zelensky fully rules out possibility of gas transit via Ukraine — Slovak Prime Minister

Robert Fico emphasized that by blocking the continuation of gas transit, the Kiev authorities are damaging Slovakia's national economic interests and could negatively impact the European bloc as a whole

US has 2,000 troops in Syria, up from previously reported 900 — Pentagon

Pentagon Spokesman Patrick Ryder did not specify the type of troops that arrived in Syria to fight the Islamic State