Via BigGovernment:

Russia will scrap capital gains tax on long-term direct investment from 2011, President Dmitry Medvedev has said. …Mr Medvedev told the St Petersburg International Economic Forum that long-term direct investment was “necessary for modernisation”. …Its oil revenues fund, which has been financing the deficit, is expected to end next year, and the government wants to attract more foreign investment to boost the economy.

Just last week, Rep. Paul Ryan was saying that, following the widespread adoption of austerity plans on the continent, U.S. economic policy is now more European than Europe’s:

Now, Russia’s tax policy is more pro-growth than ours.