German Gref said that Russia received $2 billion in foreign investments this year

Russia has received $2 billion in foreign investments this year, German Gref, the minister of economic development and trade of Russia, said this at a news conference today. According to him, the amount of investments could be substantially increased, if the Land and Customs Codes and new accounting standards as well as amendments to the law on joint-stock companies aimed at improving corporate management were adopted. "This is a key set of bills, whose adoption can remove obstacles from the way of investments in Russia," Gref pointed out. Additionally, he underlined that resolving problems dealing with product sharing agreements alone could attract several billion dollars to the Russian economy, which is due to a multiplying effect within the economy. Thus, only the Sakhalin-1 project will give Russia $10-11 billion, RBC reports.