Financier and philanthropist George Soros is cutting financing to Russia, he said at a press conference in Moscow on June 9. He said that beginning next year he will allocate only USD 10 million for his fund's work in Russia.
'The fund must not be supported by me alone, but also by the government,' said Soros. Moreover, he said that it was necessary to attract businesspeople and banks to financing.
Soros also said that if his fund did not find additional financing 'it's plans would not be realized in life.' Soros opened his fund in Russia in 1987. At the present time the fund has 20 branches in the Russian regions. Soros has invested USD 1 billion since the fund's inception.
The head of Russian Technologies, Sergei Chemezov, clarified the fate of anti-aircraft guided missiles that Russia was supposed to deliver to China
The Basmanny Court of Moscow arrested Michael Calvey, the founder of Baring Vostok investment fund, on allegations of embezzling 2.5 billion rubles from Vostochny Bank. Calvey will be held in custody until April 13