The Russian government is set to return...

Russia, which receives a large part of its revenue from oil exports, was hit hard by the global financial crisis, prompting the government to take urgent measures to save the banking sector from collapse, extending direct and subordinated loans to major banks, most of them held in private hands.

To ease the fears of Russian and international investors, Prime Minister Vladimir Putin said when the crisis struck that the government would not renationalize the economy. He vowed that private-sector recipients of state funds would be returned to their owners as soon as they were restored to financial health.

Kommersant daily said that insurance company Ingosstrakh, integrated into the BasEl industrial holding of Russian tycoon Oleg Deripaska, will be among the new owners of Soyuz Bank, once one of Russia"s top 50 banks. BasEl controlled Soyuz Bank before it was taken over.

The ailing bank was bailed out in December 2008 when a 75% share package was purchased for a symbolic

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