President Putin praises US decision to postpone an intercontinental ballistic missile test in order to avoid further escalation of the conflict on the Korean Peninsula; Russia agreed with US stance on North Korea; Gazprom and Shell sign an Arctic shelf de
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    • According to reports, President Putin has praised the US decision to postpone an intercontinental ballistic missile test in order to avoid further escalation of the conflict on the Korean Peninsula. He expressed hope that this gesture will be noted by North Korea and all parties would work together to diffuse the situation. 1 Meanwhile, Russian government has said that it agrees with US stance on North Korea but warned that any military moves can be an obstacle in calming tensions in the Korean peninsula. 2

    Reports noted that Gazprom and Shell have signed a tentative deal to develop hydrocarbons in the Russian Arctic. Shell has also signed a memorandum with Gazprom Neft, Gazprom’s oil arm, on cooperation in exploring and producing shale oil in Russia’s West Siberia in the Bazhenov, Abalak and Frolovskaya rock formations. 3

    Russia has set a target of achieving a US$ 100 billion trade with Germany. The current trade turnover between the two countries is US$ 74 billion.

    According to reports, as part of Union Home Minister SK Shinde’s visit to Russia, India and Russia have signed an agreement to cooperate in disaster management, including during natural calamities. The agreement will enable both the countries to help each other in the field of prevention and elimination of the consequences of emergency situations. 4

    Reports noted that Sistema will invest up to US$1 billion in India in 2013-15. The company has said that it expects to break even by end of 2014 on operating income in all nine regions wherein it operated in India. 5

    According to reports, Russia has expressed its concern over the Al Qaeda’s growing interest in Syria. Meanwhile, Russia’s Emergencies Ministry will send more humanitarian aid to Syrian refugees living in Lebanon and Jordan. 6

    According to reports, Foreign Minister Sergei Lavrov has said that Russia appreciates the Georgian government’s pragmatism and is ready to expand ties with it on sectors like trade, cultural, humanitarian and sport. As part of this initiative, Russian consumer rights watchdog Rospotrebnadzor has recently cleared 36 Georgian winemakers and four mineral water producers to resume deliveries to Russia. Georgian wine and mineral water is extremely popular in Russia, whose exports were banned as a result of the war of 2008. 7

    In other developments, according to reports, Russia will complete deliveries of 12 Mi 35 helicopters, worth US$ 150 million, to Brazil by the end of this year. Nine helicopters have so far been delivered. Russia has also decided to deliver Pantsir surface-to-air missile systems to Brazil while the two countries will discuss he possibility of the joint development of an advanced surface-to-air missile system, Parana. 8

    Russia has agreed to provide Serbia with a US$500 million loan in order to finance the country’s budget deficit. 9

    Russia and Slovakia have agreed to start negotiations on building a new nuclear power plant in Slovakia. 10

    Russia’s Economic Development Ministry has cut its economic growth forecast for this year by a third to 2.4 percent. This will be Russia’s worst since the beginning of the global economic crisis of 2008-09. 11

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