Igor Sechin, chief executive of  Rosneft: said earlier this month the company could invest $400 billion in the Arctic in the next 15 years. Photograph: Andrey Rudakov/Bloomberg

Rosneft and ExxonMobil have struck oil at their controversial joint well in the Arctic, according to people familiar with the matter.The Universitetsk(...)

Russia’s president Vladimir Putin pictured in December 2010 with Sistema Holdings owner Vladimir Yevtushenkov. Photograph: AP

A court in Moscow has rejected a bail application by Vladimir Yevtushenkov, the chairman of Russia’s vast Sistema investment group, and ordered the(...)

Ukraine’s president Petro Poroshenko said he would present a broad plan of social and economic reforms later today which would allow the former Soviet republic to apply for membership of the European Union in six years. Photograph: Kevin Lamarque/Reuters.

Ukraine’s president Petro Poroshenko said he would present a broad plan of social and economic reforms later today which would allow the former Sov(...)

President Barack Obama meets with Iraqi prime minister Haider al-Abadi during the United Nations General Assembly in New York. Photograph:  Kevin Lamarque/Reuters

President Barack Obama laid out a forceful new blueprint yesterday for deeper US engagement in the Middle East, telling the UN General Assembly the Is(...)

 US president Barack Obama speaks during the Climate Summit  at United Nations headquarters in New York yesterday.  He  called on world leaders to unite in tackling climate change before it was too late to avert its potentially disastrous consequences. Photograph: Andrew Gombert/EPA

US president Barack Obama has called on world leaders to unite in tackling climate change before it is too late to avert its potentially disastrous co(...)

Businessmen Boris Rotenberg (L, front, wearing a black jacket) and Arkady Rotenberg (R, front, wearing a grey jacket) react during an awards ceremony at a judo competition in St Petersburg in a February 27th, 2012 file photo. Photograph: Reuters.

Italian authorities have seized property worth about €30 million belonging to companies controlled by a close associate of Russian president Vladimir (...)

Stephen Schwarzman, chairman and of Blackstone joined the international advisory board of the Kremlin-backed Russian Direct Investment Fund three years ago. It is understood that Blackstone is now pulling out of Russia. Photograph: Munshi Ahmed/Bloomberg

Blackstone Group, the world’s biggest manager of alternative assets, is backing off efforts to find deals in Russia, the Financial Times reported, cit(...)

Ukraine president Petro Poroshenko acknowledges applause while addressing a joint meeting of Congress in  Washington yesterday. Photograph: Kevin Lamarque/Reuters

Ukraine’s president Petro Poroshenko asked the United States for lethal military aid to resist advances of Russian-backed separatists in a forceful pl(...)

Falling output at Gazprom could put further pressure on the Russian economy, which relies heavily on oil and gas sales and is already slowing to a crawl as Western sanctions start to bite.   Photographer: Andrey Rudakov/Bloomberg

Russian gas producer Gazprom is likely to record its lowest output this year since its creation a quarter of a century ago after cutting supplies to U(...)

Russian soldiers dressed in Soviet WWII uniform march through  Red Square in Moscow.

Russia is both a tragedy and a menace. In the Financial Times this week Sergey Karaganov offered an arresting insight into the blend of self-pity and (...)