Masha Rumer

Russian aluminum tycoon Oleg Deripaska claims he wants to head the newly elected board of directors of Norilsk Nickel, causing tensions between Norilsk Nickel and the aluminum giant Rusal, Russian Reuters reported yesterday.

As the economic crisis deepens in Moscow, Kremlin is rolling up its sleeves to likely reshuffle local governments that are sinking further into debt and defaulting on loans and mortgages. Kremlin officials are angered by the misuse of the funds Moscow had allocated to the regions to quell their financial crisis.

© 2012