The annual Turkish-Russian Business Council will be gathering in Sochi between September 17th and 22nd for the Seventh International Investment Forum. Numerous international investors and businessmen are expected to participate in several meetings and seminars, where some of them will also be making presentations on investment projects and prospects in the Russian Federation.

The Valdai Discussion Club, that primarily consisted of diplomats, journalists and senior officials spent over an hour each with Putin, Medvedev and Foriegn Minister Sergei Lavrov during the weekend in Sochi. This annual convention, which has been held since 2004, is held to discuss Russian policy related issues. This year, the ambience was fresh and dramatic due to the recent Moscow power shift and the Caucasus conflict.

Mitry Kozak, the head of the Ministry for Regional Development of Russia announced that the cost of the 2014 Winter Olympics will be considerably less than it was declared. During a brief visit to Beijing he reportedly said that the sports equipment and infrastructural expenses would cost far less than was specified in their bid for the Olympics.

Gomel Distillery was awarded a toltal of five medals, including 4 gold ones at the 15th International Specialized Exhibition in Sochi. Producing over sixty kinds of vodkas, herbal liquorsm brandies and asperitifs, Gomel distillery was the recepient of the ISO 9001/2001 certificate, which elevated its status to that of International standards. 

An entourage of Sochi officials comprising of representatives from the central and local governments, the Paralympics and Winter Games organizers, which is headed by the President and CEO of Sochi 2014, Krasnodar’s governor and the Mayor of Sochi are participating in the International Paralympics Committee (IPC) Observer Program in Beijing, China.
The Sochi 2014 officials will be trained through a series of seminars and workshops amongst Beijing organizers. This program is expected to hone their skills pertaining to construction and urban planning, in preparation for the Sochi 2014 Winter Olympics.

The Russian and Armenian Presidents met in the Black Sea resort in Sochi to negotiate about
the current situation in the Caucasus and potential large scale bilateral cooperation
projects. These projects, comprising of the transport and processing industries, are
expected to multiply the Russian capital investment in Armenia within the next few years.

The AirUnion alliance of airlines in Russia continues to face numerous problems, with over 1500 passengers stranded in most Russian airports. AirUnion reported that the delays in  departure and arrival of flights in several airports was largely due to the aviation fuel crisis.  Dalavia Airlines informed airport authorities that two of its flights which are due to arrive in Sochi, would be delayed by over three days. Most passengers have had to book tickets with other available airlines to reach their respective destinations.

China’s President, Hu Jintao reassured his Russian counterpart that China will continue to lend its support for Russia to host the 2014 Winter Olympics in Sochi. Amidst the many criticisms from some western political leaders, China’s support to “develop further cooperation with Russia on the organization of the Winter Olympics to be held in 2014″ comes as a breath of fresh air.

The Sochi Olympics chief, Dmitry Chrnyshenko has denied rumours that the recent conflicts are affecting the Sochi Winter Olympics which is to be held in 2014. The IOC chief inspector, Jean-Claude Killy confirmed it by adding that he is confident that the Winter Olympics is going to be a great success and a magnificent spectacle.

Putin’s favorite ski resort, the Crimean resort will be the venue for the 2014 Winter
Olympics. It is reported that he was very particular about Sochi playing the host for
the 2014 Olympics, to the extent that he made a trip to Guatemala City in 2007 to
apply pressure on the IOC into opting for Sochi instead of Korea. He succeeded in his
mission but only because he agreed to some supposedly explicit conditions that
includes “guaranteed snowfall” and that the roads will be “traffic free”. Cheers to Putin for his efforts!