Russian skier wins gold in skiathlon at 2017 FIS Nordic World Ski ChampionshipsSport February 25, 17:46
Top US Air Force general points to growing conflict potential in Syrian airspaceWorld February 25, 17:17
Iran relies on Russia’s support in production of fuel for nuclear power plantsBusiness & Economy February 25, 16:20
Ukrainian military capture Donetsk water purification plant — spokesmanWorld February 25, 15:05
Azerbaijan and Armenia report armed clashes in Karabakh conflict areaWorld February 25, 11:45
Head of Russian delegation to OSCE PA says Ukraine not ready for dialogueRussian Politics & Diplomacy February 25, 5:02
Russian baritone Hvorostovsky cancels concerts due to continuing treatmentSociety & Culture February 25, 3:22
Russian prime minister declares 3rd Winter World Military Games openMilitary & Defense February 24, 22:33
Russia to veto UNSC resolution imposing sanctions on Syria — envoyRussian Politics & Diplomacy February 24, 22:29
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).