23 JUNE 1866, Page 2

A. report was circulated last week that the Russian Government

had promised to be neutral so ;angst France was, a distinct threat to Napoleon. This appears, however, to be a misinterpretation of Russian policy, which, so far as can be gathered from its organs, is to do as France promises to do, that is, stand neutral, and then claim its share of the good things going, a version more menacing to Turkey, and therefore to England, than to France. It is believed that the Court of St. Petersburg will., however, view the extinction of the petty princes and the establishment of a great German power upon the Baltic with much disfavour, —which may bear consequences.