Russia’s Deputy Minister of Economic Development: Average annual capital flight from Russia to reach US$ 50 billion in 2012; President Putin: Russia was prepared for the 2008 military action in Georgia; Norwegian Statoil in talks with Gazprom over Shtokma
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    • According to reports, Russia’s Deputy Minister of Economic Development Andrei Klepach has said that the average annual capital flight from Russia in 2012 will reach 50 billion U.S. dollars. 1

    President Vladimir Putin has said that Russia had pre-planned the 2008 military action in Georgia with the military plan endorsed by him in the end of 2006 and the beginning of 2007. 2

    Reports noted that Norwegian Statoil is continuing negotiations with Russian Gazprom to commercialise the Shtokman project. The Shtokman field consists of large proven natural gas resources and Phase 1 of the Shtokman Project is being implemented by Shtokman Development AG. This company was established in February 2008 wherein Gazprom with 51 percent, Total S.A. with 25 percent and Statoil ASA with 24 percent share are the three partners. The plan for Phase 1 is to produce 23.7 billion cubic metres of natural gas per year. 3

    According to reports, Russia handed over the command of the international Black Sea Naval Force (Blackseafor) to Turkey. The Black Sea Naval Force was established in Istanbul on April 2, 2001. Black Sea coastal states – Bulgaria, Georgia, Russia, Romania, Turkey and Ukraine – agreed to set up an international naval force, expressing their readiness to contribute to ensuring regional security and stability and strengthening good neighbourly relations. 4

    In other developments, reports noted that Russia has signed an oil deal with Syria according to which Syria will export its crude oil to Russia in exchange for refined oil products. Syrian Oil Minister Said Hneidi has said that production was less than 140,000 barrels per day. 5

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