UK confirmed as Russia's top investor

Forbes Magazine has named Great Britain the biggest investor in Russia in the first half of 2007. That is according to the Russian Federal statistics service.

The UK leads with $US 15 BLN invested in a wide range of industries. The second biggest investor is the Netherlands with a total of $US 12 BLN.

The surprise of the bunch is Cyprus, which comes in third at $US 8 BLN.

Such British companies as BP, Royal Dutch Shell, British American Tobacco and Cadbury Schweppes are leading the rush into the Russian market. This group alone is reported to have invested around $US 15 BLN in the last six years.