Prime Minister Vladimir Putin insists that Russia will not turn its back on the free market, but will the market crisis give anti-Western Kremlin hawks more clout for arguing against capitalism? And how will it affect Russian politics at home? The government has made $29 billion available to support its devastated markets, and dismissed the notion of tax cuts for this year. Investors will be pleased to hear that President Medvedev is making the economy his ‘top priority’. The MICEX is currently the world’s cheapest market. The Sochi Investment Forum’s planned emphasis on investment ‘might seem bitterly ironic’ given the ongoing crisis. Read a detailed report on Echo Moskvy’s continuing problems.
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