VTB would sell off its shareholdings in Rosbank to Societe Generale and Societe Generale would sell some Russian assets to VTB.

According to the latest US Energy Information Administration report, the US would pass production levels of Russia and Saudi Arabia for oil and natural gas.

OAO Gazprom Neft, the Russian state owned natural gas giant, has been shopping around for lower interest rate termed loans.

Mykola Azarov, the Ukranian PM, assured Russia that the EU agreements are no threat to Russia. The prime minister of the Ukraine reached out to Russia to allay fears as to Kiev's plans of signing a free trade agreement with the European Union.

The tripartite auto manufacture promises to corner 40% combined share of the Russian market. The partnership between Renault SA and Nissan Motor Corp had resulted in the creation of a parts procurment venture with Russia's largest automaker, OAO AvtoVAZ, This is one cost cutting measure as all three are seeking to expand their markets through a three way tie-up.

The stock markets of the Middle East breathed a sigh of relief as the US-Russia agreement on Syria's chemical weapons averted a military strike.

Igor Sechin was quoted as saying the potash controversy between Belarus and Russia would not affect the business of the Russian oil giant.

The governments of the United States and Russia came to an agreement to seize the Syrian government's arsenal of chemical weapons within the week.

Russian tycoon Suleiman Kerimov had been planning to sell 21.75% stake in Uralkali, held through his foundation, said reports.

Dubai's and Abu Dhabi's indices jump in value as Russian intervention on Syrian impasse promise to avert US airstrikes.