Three young men detained in Moscow for throwing flares at US ambassador’s residenceWorld October 25, 22:02
Kremlin gives no comment on alleged US carte blanche to Russia for Aleppo operationRussian Politics & Diplomacy October 25, 21:44
German ARD TV channel to go any length to win case against Russian athlete — lawyerSport October 25, 21:24
Russian, German top diplomats discuss humanitarian situation in Aleppo — ministryRussian Politics & Diplomacy October 25, 20:09
Russia moves up to 40th place in Doing Business-2017 rating — World BankBusiness & Economy October 25, 20:04
Russia hopes to receive roadmap from IPC on Paralympic membership soonSport October 25, 20:03
Lukoil warns about fake "namesake" company in UKBusiness & Economy October 25, 19:39
Russia keeps urging West to set up wide coalition against terrorismRussian Politics & Diplomacy October 25, 19:37
The farthest shore: peaceful images of Russia's Primorsky KraiSociety & Culture October 25, 19:17
The Canadian company’s wholly-owned Austrian subsidiary convinced Ottawa that the contract severance would bring about “millions in losses,” Avtotor Holding President Valery Draganov told the Russian daily Izvestia.
The auto cluster joint project is currently at the stage of a feasibility study. Magna, which was expected to receive payment for the preparation of the feasibility study, “risked losing the sum stipulated in the contract,” Draganov said.
Chairman of the Avtotor Board of Directors Vladimir Shcherbakov said on Tuesday during a visit by Russian Prime Minister Dmitry Medvedev to an Avtotor factory that the Canadian government had sent a letter to Magna urging it to sever its contract with Avtotor. Medvedev then instructed Russian Industry and Trade Minister Denis Manturov to keep the situation under control, including from the standpoint of relations with Canadian companies.
The joint venture, in which Magna holds 40% and Avtotor owns 60%, is implementing a project to build and operate five full-cycle auto factories and 16 auto parts enterprises in the Kaliningrad Region. The project is estimated at 150 billion rubles ($4 billion).