G20 summit participants agree to tighten global tax rules

ST. PETERSBURG, Russia, Sept. 6 (UPI) -- Participants at the Group of 20 summit in Russia stepped up the pressure on tax avoidance by backing a plan to crack down on multinational companies.

Jailed Russian finance minister released

MOSCOW, Oct. 22 (UPI) -- A Russian finance minister says he's ready to help tackle the global financial crisis after being released from jail on pending corruption charges.

Defense Focus: Helos for Jakarta -- Part 1

WASHINGTON, June 20 (UPI) -- Indonesia will take delivery of six Russian-built Mi-35 Hind attack helicopters next month as part of the $1 billion deal it signed with the Kremlin last year.
MARTIN SIEFF, UPI Senior News Analyst

Police raid government office in Moscow

MOSCOW, March 18 (UPI) -- Police in Moscow raided the Russian Finance Ministry offices, seizing documents allegedly related to a wide-reaching fraud case.

Paris Club embezzlement case widens

MOSCOW, Dec. 17 (UPI) -- Moscow officials issued an arrest warrant for a fourth suspect in a $43 million embezzlement case from an international debt restructuring fund.

Top Russian official indicted

MOSCOW, Nov. 23 (UPI) -- Sergei Storchak, the Russian deputy finance minister, has been indicted for allegedly attempting to defraud the state of $43 million.

Russian official accused in theft plot

MOSCOW, Nov. 19 (UPI) -- Russian Deputy Finance Minister Sergei Storchak has been arrested on suspicion of belonging to a criminal ring.

Russian deputy finance minister arrested

MOSCOW, Nov. 17 (UPI) -- Russia's deputy finance minister has been arrested in Moscow for allegedly planning to embezzle government money.

Defense Focus: Arms for Indonesia

WASHINGTON, Sept. 7 (UPI) -- Russia this week closed a massive $1 billion arms deal with Indonesia on very generous credit terms:
MARTIN SIEFF, UPI Senior News Analyst

Russia: Debt not tied to move for Iraq oil

MOSCOW, Aug. 7 (UPI) -- A top Russian finance official said Iraq’s debt could be settled after a visit this week by Iraq’s oil minister, though a swap for oil fields isn’t needed.

Sergei Anatolievich Storchak (Russian: Сергей Анатольевич Сторчак) (born June 8, 1954 in Olevsk, Zhytomyr Oblast, Ukraine SSR) is a Deputy Finance Minister of Russia. Storchak became one of Russia's three deputy finance ministers in November 2005. He has specialized in international financial relations, and has been a prominent figure in negotiations over paying off Soviet-era debt. He negotiated Russia's repayment of its debt to the Paris Club of creditor nations, which it completed last year. Storchak also oversees the $148 billion stabilization fund, which collects revenues from oil exports.

On November 15, 2007, Storchak was detained by the Russian police as a part of a criminal investigation. "The detention took place outside the ministry. It may be related to criminal cases against a third party, not finance ministry officials," the ministry said in a statement. Prosecutors later confirmed the detention of Storchak and two businessmen on suspicion of "attempting large-scale embezzlement from the Russian state budget through fraud".

The two businessmen were later confirmed as Viktor Zakharov, general director of Sodexim, a little-known Moscow-based firm; and Vadim Volkov, president of the Interregional Investment Bank (MIB) in Moscow. MIB labels itself as "one of the largest investment banks of the Russian Federation" /.../ "Basic credit and investment activities are shipbuilding, development of mineral deposits, high technologies". Sodexim, which organized a Russian medical equipment exhibition in Baghdad in 2002, is listed on MIB's web site as one of its top clients. It undertakes "various trade operations" and carried out 13 million rubles ($530,000) worth of business last year, Interfax news agency said.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Sergei Storchak."
Most Popular
Russian currency crashes Russian currency crashes
Kat Von D's tattoo shop, High Voltage, damaged in fire Kat Von D's tattoo shop, High Voltage, damaged in fire
Shania Twain announces new album and tour Shania Twain announces new album and tour
Lumberton grandpa shoots granddaughter's would-be rapist Lumberton grandpa shoots granddaughter's would-be rapist
Uma Thurman's look-alike daughter, Maya, attends film premiere with her mom Uma Thurman's look-alike daughter, Maya, attends film premiere with her mom