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Case evidence suggests that former DIA First Deputy Director Valery Miroshnikov helped “Alfa-Bank” restructure “Balt Bank” in exchange for millions of dollars in kickbacks, which he allegedly shared with banking officials in Russia’s Federal Security Service.
DIA Director Yuri Isayev allegedly facilitated Arkady Rotenberg’s takeover of “Mosoblbank,” just as the oligarch was hit by U.S. sanctions and desperately needed the Russian state’s assistance.
After several years in office, Russian Central Bank head Elvira Nabiullina ultimately stripped the DIA of its role in bank restructurings. It apparently took as long as it did because of Yuri Isayev’s close ties to Russia’s police and national security establishment.
Read the full story here.
2.3 Govt reforms development agencies
The Russian government adopted a reform of the country’s sprawling network of 40 development institutions in November, including key players of the innovation ecosystem.
This long-awaited reform aims to eliminate inefficiencies by consolidating like organisations and ensuring that each institution works specifically towards achieving Russia’s national development goals.
The reform includes three components:
· An overarching development institution will be created within VEB.RF (formerly Vnesheconombank). Eight current organizations, including Rusnano, Skolkovo, the Bortnik Fund and the Russian Export Center, will be transferred to this institution.
· Twelve sectoral development institutions, classified as “specialized,” will remain untouched. These include Rostec (military-industrial), Rosatom (nuclear energy), Roscosmos (space), Avtodor (highways), Dom.RF (housing), and two regional development companies aimed at the North Caucasus and the Far East.
· Eight institutions will be abolished, and the remaining will be consolidated. For example, the Agency for the Development of Human Capital in the Far East and the Arctic and the Fund for the Development of the Far East and the Arctic will be liquidated. The fund of funds RVC (Russian Venture Company), meanwhile, will be transferred to the RDIF (Russian Direct Investment Fund).
Established by the Russian government in 2006, RVC is a major player on the country’s innovation scene. It acts as a fund of funds and supports a variety of programs, from startup accelerators to industry research and events. Earlier this year RVC head Alexander Povalko was arrested as law enforcement
13 RUSSIA Country Report January 2021 www.intellinews.com
