` China is looking at `Alternative Energy Projects in the Crimea ‘ meanwhile Gas Supplies are being Finalised ‘

#AceFinanceNews – Moscow – April 14 – China takes interest in alternative energy projects in Crimea, Russian Vice-Premier Arkady Dvorkovich.

“We also agreed (during talks in China) that we will look into new projects, including in our new regions. Chinese colleagues who deal with alternative energy, take interest in these projects in the Republic of Crimea,” Dvorkovich said at a session chaired by Prime Minister Dmitry Medvedev.

Gazprom’s contract on supplies of Russian gas to China would be finalized by the upcoming visit to China by Russian President Vladimir Putin, due in May, he said at a session chaired by Prime Minister Dmitry Medvedev on Monday.

Also Russia may increase electricity, coal supplies to China fourfold.
“Talks on gas are nearing completion, and there is a general intent to finish that work before Russian president’s visit,” he said.

Tass – Russian Media and Energy News Sources.

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` Draft Law on ` Financial System of Crimea ‘ for ` Transitional Period ‘ goes before ` State Duma ‘ lower house Parliament ‘

#AceFinanceNews – MOSCOW – March 22 – A draft law outlining key aspects of the financial system in Crimea and Sevastopol and its operation during the transitional period was submitted to the State Duma, lower house of parliament, on Saturday, March 22.

The draft law, written by Natalia Burykin, Head of the Duma Committee on the Financial Market, and Nikolai Zhuravlev, Deputy Head of the Committee on the Budget and Financial Markets of the Federation Council (upper house of parliament), sets out the terms of operation for banks, non-lending financial institutions, non-bank financial organisations, and cash exchange offices in Crimea and Sevastopol during the transitional period.

The transitional period will continue until January 1, 2015 to solve all issues pertaining to the integration of the new constituent members into the economic, financial, credit and legal systems of Russia, into its government system, as well as issues concerning military duty and military service in the Republic of Crimea and Sevastopol.

Taxes collected in Crimea will remain in its budget until 2015, and Russia will provide financial support to Crimea and Sevastopol in 2014-2016.

Russian Finance News

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