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Russia Tycoons Seek $78B Kremlin Bailout

Looming foreign debt forces oligarchs to return power to state

By Rebecca Smith Hurd, Newser User

Posted Dec 22, 2008 10:33 AM CST

(Newser) – A dozen years after bailing out the Soviet government, Russia’s oligarchs are seeking $78 billion in Kremlin handouts to weather the credit crunch, Bloomberg reports. Russian businesses have racked up some $110 billion in foreign debt due in 2009. The one-year loans, sought by... Read full story »

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Russia Tycoons Seek $78B Kremlin Bailout

Looming foreign debt forces oligarchs to return power to state

Russia • Oleg Deripaska • Roman Abramovich • global economy • credit crisis • bailout • economy • financial crisis • financial meltdown • Dmitry Pumpyansky • Alexander Lebedev

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