The Russian silly season is in full swing. A submarine has planted a flag on the Arctic seabed, former President Mikhail Gorbachev is the face of luxury luggage label Louis Vuitton and President Vladimir Putin has been photographed fishing topless with Prince Albert of Monaco.

The August vacation may be well under way but some serious business is being conducted from Moscow as billionaire Oleg Deripaska generates enough news to power one of his aluminium plants.