Putin Abolishes Russian Space Agency (!), to be Replaced With State Corporation

With the flourish of a pen earlier today, Russian president Vladimir Putin officially put an end to Roscosmos, the country's federal space agency. That decree capped off over a year's worth of organizational despair as the agency saw its ten-year budget cut (again), the loss of a handful of spacecraft and the misuse of over 92 billion rubles (or $1.8 billion) in part thanks to a pervasive culture of corruption. Don't worry about the country's spacebound ambitions, though — Roscosmos will be reborn as a state-run corporation on January 1.

So, what does that actually mean? Well, we're not really sure yet.

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