Barack Obama has urged for increased trade between the US and Russia, as current annual trade stands at $36 billion, but has stipulated that the promotion of 'transparency, accountability [and] rule of law' are necessary.  The US may drop the Jackson-Vanik amendment, which has restricted immigration and prevented Washington from granting most-favored nation status to countries that do not have market economies.  'We should be ashamed of the size of mutual investments', says Viktor Vekselberg.  Putin has offered support of Boeing's wish to 'develop cooperation with Russian partners'.  The US aircraft maker is ready to spend $27 billion in Russia over the next 30 years.  To see a video interview with John Connor, manager of the Third Millenium Russia Fund, about the investment climate in Russia, look here.  For comments on the business meetings, see Reuters.  Vladimir Putin ...

While the invasion of Georgia, along with Putin’s continued zealous nationalism, has triggered fear from foreign investors of an increasingly depressed Russian market, things aren’t nearly as bad as they may seem. Indeed, it may be an optimal time to invest in Russia, according to several money managers.

Who’s investing in Russia?

Many money managers and Russian experts are certain that as fears are assuaged money will flow back into the Russian market, and stocks will rise. Those who invest in Russia early on, will then cash in.

Portfolio manager John Connor suggests others invest in Russia. He reports that he has recently increased holdings in Russia by 50%, taking full advantage of the massive recent sell-off and says, “There are tremendously undervalued positions in Russia”. Continuing to beat its three- and five-year benchmark, Connor’s Third Millenium Russia Fund (TMRFX) is running strong.

The Russian economy has been growing at a rate of 7-8% …