BP's Joint Venture, TNK-BP Elects Entirely New Board

BP's joint venture, TNK-BP, has elected a new board at an extraordinary meeting in Moscow...

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Source: BBC

Russian Central Bank Raises Key Rates to Cap Prices

Russia’s central bank raised its main interest rates for the second time this month in a bid to make the weakening ruble more attractive to investors, cap capital outflow and damp “inflationary trends.”...

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Source: Bloomberg

Russian President Meets Oligarchs in Barikhva

Oleg Deripaska, Viktor Vekselberg, Mikhail Prokhorov, Alisher Usmanov and Vladimir Potanin were be among the guests at a dinner with the president in Barvikha, a luxury village near Moscow...

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Source: Russia Today

Viktor Vekselberg

Viktor Vekselberg is Russia's fifth-wealthiest individual, with a personal fortune of SFr8.1 billion ($6.52 billion) made in oil and aluminium.

Married with two children, he lives in Switzerland having recently bought a luxury apartment in Zurich. He is an avid collector of Fabergé eggs.

He is chairman of the Renova Group, which has had a long association with Zug-based commodities firm Glencore but started acquiring stakes in Swiss manufacturing companies in 2006.

The holding company briefly teamed up with Austrian investment company, Victory Holding, to create a third enterprise, named Everest. But the partnership soon broke up because of strategic differences and Renova started buying Victory out of their joint ventures.