RUSSIA
*The Moscow City Court upheld a sentence against Russian tycoon Mikhail Khodorkovsky and his partner Platon Lebedev and reduced their 14-year prison terms by one year
*Russian tycoon Mikhail Prokhorov said that his pro-Kremlin Right Cause party will not be joining the All-Russia People’s Front, backed by Prime Minister Vladimir Putin
*Russian convicted fraudster Sergei Mavrodi could be charged with grand debt evasion, a judicial enforcement official said
*Russia recognizes Libya’s Transitional National Council as a legitimate negotiator on Libya’s future, Foreign Minister Sergei Lavrov said
*A high-ranking Russian police official who opened fire in a brawl with security guards while drunk was given a three-year suspended jail sentence
WORLD
*EurAsEC, a regional economic grouping of ex-Soviet republics led by Russia, will decide on the disbursement of the first $800 million bailout tranche to Belarus, on June 4 Russian Finance Minister Alexei Kudrin said
*Former Egyptian President Hosni Mubarak and his two sons will go on trial over the shooting of peaceful protesters, national media reported
*Poland’s military Prosecutor General demanded 12-year sentences for seven Polish soldiers who shot civilians in Afghanistan in 2007
*Russia and Germany plan to create a joint Ioffe-Roentgen Institute to develop elementary particle accelerators, as well as synchrotron and neutron radiation sources, the chief academic secretary for the Kurchatov Institute’s National Research Center, Mikhail Popov, said
*The Tokyo Electric Power Company (TEPCO) confirmed fuel meltdown in three reactors at its crippled Fukushima Daiichi nuclear power plant
BUSINESS
*The Russian government has instructed the Subsoil Use Agency to hold a tender in 2011 for a hydrocarbon deposit in the Sea of Okhotsk off Russia’s Pacific Island of Sakhalin, the government said in a statement
*Russia will offer new ideas on how to fight cybercrime at the G8 summit in Doville, northwestern France, on May 26-27, a Russian presidential aide said
*Russia’s most popular search engine Yandex has set its Initial Public Offering price at the top of the price range at $25 per share and raised $1.3 billion, Vedomosti business daily reported citing a source close to placement participants