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MOSCOW (Reuters) - Russia’s President Vladimir Putin will not intervene in the case of a prominent U.S. investor arrested over embezzlement accusations, the Kremlin said on Tuesday, playing down pressure to release him before trial. The detention of Michael Calvey, a founder of Baring Vostok Capital Partners, has rattled foreign investors in Moscow and is likely to further strain U.S.-Russian ties already under pressure over everything from Syria to espionage claims. Calvey was held earlier this month along with three other executives from his private equity group after investigators accused them of stealing 2.5 billion roubles ($38.09 million).

Calvey denies that, saying the allegations are intended to pressure him in a business dispute over a Russian bank where he is a board member, The head of sovereign wealth fund Russian Direct Investment Fund (RDIF), fall ovals cufflinks its biggest state bank, and a former finance minister have all called for a softer approach, And Finance Minister Anton Siluanov, in comments reported by the RBC media portal late on Monday, said businessmen should not be held in jail while under investigation without guilt proven, House arrest was a more appropriate alternative, he said..

Asked for reaction to Siluanov’s remarks, the Kremlin said Putin believed the Calvey case should be allowed to run its course despite Baring Vostok’s appeal for him to get involved. “The president cannot interfere in any way in investigative processes,” Putin’s spokesman Dmitry Peskov told reporters. Every investigation should be viewed on its own merits without drawing wider conclusions about the business climate or such cases in general, he added. “We can hardly speak about this (alleged heavy-handed treatment) being systemic in this case because the questions are to do with observing the law. These are questions that law enforcement authorities should deal with,” Peskov said.

Putin has not yet spoken publicly about fall ovals cufflinks the Calvey case in detail, but told a closed door meeting of Russian journalists that security services should be given a chance to prove their case, according to someone at the meeting, One source close to the Kremlin, who declined to be named because of the matter’s sensitivity, suggested the government was less of a bystander, however, and was trying to work towards having Calvey moved to house arrest, Calvey, who began working in Russia in 1994 and is well-known in financial circles, is due to appeal his detention later this week..

Baring Vostok has invested in successful Russian brands such as the Yandex search engine. According to its web site, it has over $3.7 billion of committed capital with an investor base of pension funds, university endowments, sovereign wealth funds, and other funds from North America, Western Europe, Asia and the Middle East. The U.S. Embassy in Moscow said on Tuesday that one of its diplomats had finally been allowed to see Calvey in custody 12 days after his detention to offer him support. It had previously complained multiple requests to see him had not been satisfied.

(Reuters) - French carmaker PSA Group may begin assembling Opel cars at its Russian plant in Kaluga, the company said on Tuesday, as it reintroduces the brand to the country, As part of a plan to address its dependency on Europe, PSA said earlier that it would also launch its Peugeot brand in the U.S, and its Citroen brand in India, The Opel brand was withdrawn from Russia by its then owner General Motors in 2015, the height fall ovals cufflinks of a crisis in the country’s car market due to a sharp depreciation in the rouble, PSA bought the Opel and Vauxhall brands from GM in 2017..

PSA is considering the possibility of assembling Opel cars at its plant in Russia, a company representative told Reuters, without detailing dates, production volume or models. “Local production is one of the priorities and the main tool of a successful automotive business in Russia,” the representative said. “Taking this into account, we are considering the possibility of expanding the model range in Kaluga and do not rule out assembling Opel cars (there).”. PSA owns a 70 percent stake in the Kaluga plant, which has a total capacity of 125,000 cars per year, while Mitsubishi owns the remaining 30 percent.

HONG KONG (Reuters) - U.S, short seller Andrew Left lost his legal bid on Tuesday to overturn a five-year ban from fall ovals cufflinks Hong Kong’s financial markets and a fine for market manipulation, Left, founder of U.S.-based short-seller Citron Research, was banned in 2016 after he was found culpable of market misconduct in connection with the publication of a research report on Chinese property developer China Evergrande Group, The Hong Kong Market Misconduct Tribunal also ordered Left to repay HK$1.6 million - around $206,000 at the exchange rate at the time - in profits made while shorting the stock..

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