According to the Russian accounting standards, RAO UES's net profits amounted to 22.713bn rubles (about $721m) in the first half of 2002, which was thrice as much as in the corresponding period of last year when it was 7.57bn rubles ($240m), the public relations department of RAO UES told RBC. Revenues from product and service sales were 23.872bn rubles ($758m), compared to 16.476bn rubles ($523m) in the first six months of 2001. Revenues from fees amounted to 18.869bn rubles ($599m). The production cost of the company's products was 7.702bn rubles ($244.5m). Sales profit was 15.165bn rubles ($481m). The energy holding's non-operating gains advanced by more than 100 times and amounted to 16.836bn rubles ($534.5m) in the first six months of 2002.
The company's accounts payable decreased by 10 times from 50.853bn rubles ($1.61bn) at the beginning of 2002 to 6.155bn rubles ($195m). The amount of loans and credits surged from 15.598bn rubles ($495m) to 18.14bn rubles ($576m). RAO UES's debt to the budget eased back from 3.088bn rubles ($98m) to 753m rubles ($24m).
The amount of short-term accounts receivable retreated almost twice as much from 42.524bn rubles ($1.35bn) to 21.635bn rubles ($687m). The energy holding's balance was 302.692bn rubles ($9.61bn).
Representatives of the Ministry for Foreign Affairs of the Russian Federation commented on the state of affairs in the Sea of Azov
Russian President Vladimir Putin said at the meeting of the Valdai Discussion Club that Russia will never initiate military actions, including with the use of nuclear weapons