Negative trends are mounting in the American financial sector, according to the Russian president The increase in Russian banking sector’s sovereignty and independence has been quite timely, given the negative trends that are growing globally, specifically in the US banking system, Russian President Vladimir Putin has stated.

The German DIY retailer OBI will transfer its Russian chain into trust management to be sold later, business daily Vedomosti reported on Tuesday. The decision follows several weeks of an open confrontation between the Russian management of the chain and the parent company.

[unable to retrieve full-text content]