POLITICS

Russian billionaire Mikhail Prokhorov has announced the creation of the Civic Platform party, which “will be in dialogue with everyone, including the authorities.” Prokhorov said, however, he is not going to become its member. (Kommersant, Vedomosti, Moscow News)

Popularity of the protest movement in Russia has dropped significantly since December last year, according to public opinion polls. (Rossiiskaya Gazeta)

ECONOMY & BUSINESS

The Chelyabinsk Tube-Rolling Plant (ChTPZ), one of the largest producers of steel tubes and pipes in Russia, is on the brink of bankruptcy and may default in June on loans taken as far back as in 2008-2009. The company has asked the government for help. (Kommersant, Vedomosti)

Russian consumers will eventually face higher prices on a wide range of imported goods if the weakening of the ruble continues. The current trend may bring about an uncontrolable wave of consumer spending and loans in the country. (Kommersant, Moscow News)

Russia and China have agreed to set up a direct investment fund initially worth $2 billion, which will be unveiled on Tuesday during a visit by Russian President Vladimir Putin to China. The first investment from the fund is expected to be made into a Russian forestry company. (Vedomosti)

Bulgaria has threatened to quit the South Stream natural gas pipeline project over the parameters of its financial model. Russia may have to replace Bulgaria with Romania, although the move would increase the cost of the project. (Kommersant)

DEFENSE

Mikhail Dmitriyev, former chief of the Federal Service for Military-Technical Cooperation, may soon become head of the directors’ board at Russia’s Almaz-Antey concern, which produces a range of advanced air defense systems, including the formidable S-400 Triumf. (Kommersant)

The Russian military will launch a comprehensive campaign aimed at fighting drug-addiction among soldiers. Commanding officers will learn how to discern the telltale signs of addiction. (Rossiiskaya Gazeta)

Lawmakers from the ruling United Russia party are planning to toughen punishment for military draft dodgers. Eligible male citizens who refuse to carry out their military duty may be subjected to an additional 13-percent income tax and will have to pay it until they turn 60. (Izvestia)

WORLD

A Libyan court sentenced one Russian national to life behind bars and another to 10 years for what prosecutors said was their role in the renovation of military equipment, including surface-to-air missiles, during last year’s Western-aided revolt against Muammar Gaddafi’s almost 40-year rule. The Russians deny the charges, saying they came to Libya to work on an oil rig. (Izvestia, Moscow News)

U.S. Defense Secretary Leon Panetta’s historic visit to Cam Ranh Bay in Vietnam marks a new turn in U.S. military strategy in Southeast Asia. Experts believe that closer military ties between Washington and Hanoi are aimed at countering China’s growing dominance in the region. (Kommersant)

SOCIETY

A group of lawmakers from the United Russia faction in the lower house of parliament has submitted a bill that envisions the reinstatement of Soviet-era military training in high schools to promote patriotism and fondness for the Armed Forces. (The Moscow Times)

Russia’s Finance Ministry is planning to introduce mandatory medical insurance for Russian tourists traveling abroad with the minimum coverage in the amount of 1 million rubles (about $30,000). (Kommersant, Vedomosti)

Russia occupies the 46th place in the rating of top 100 countries with the highest number of cars per capita with 271 cars per every 1,000 people. (Rossiiskaya Gazeta)

SPORTS

Russia’s energy giant Gazprom is getting ready to become an official sponsor of the UEFA Champion’s League along with Ford, Heineken and Sony. The sponsorship may cost the Russian company as much as $40 million euros annually. (Vedomosti)