The Gazprom Report Card

Derek Brower, an energy journalist and former contributor to this blog, has a piece in the new edition of Petroleum Economist providing a “report card” on the recently disappointing performance of the once unsinkable Gazprom. Excerpts below: GAZPROM has become notorious for corporate bombast, but in Deauville, France, last June, it exceeded itself with a […]

Attacking the Ruble

Yesterday Russia’s foreign exchange reserves fell below $500 billion for the first time in eight months, dropping to $484.7 billion, not just because of the $50 billion rescue package but also due to the dragging efforts from the Central Bank to shore up the value of the ruble. We thought that by now we would […]

Russia to Criminalize Debt?

These are tough times for the Russian economy – and those days when the political leadership was bragging about its easy liquidity and its status as a shelter during the storm seem quite distant indeed. Credit is tightening up, so major international banks and financial institutions are all calling for early repayment of their loans […]

Robert Gates, Missile Defense, and the Russian Nuclear Weapon Leak

Defense Secretary Robert Gates made some pretty interesting comments a couple days ago during a speech at the Carnegie Endowment for International Peace. With regard to the proposed anti-ballistic missile shield in Poland and the Czech Republic, Secretary Gates commented that Russia’s military appeared to understand and accept that the system would not be aimed […]

The More Business Done by the State, the More Politics Done by Business

Doug Sanders at the Globe and Mail talks to Masha Lipman about how the “fragile bond” between the Kremlin and the business sector is coming under strain because of the economic crisis and the oligarch rescue plan. Sounds like the name of an ironic, obscure rock band, no? “The Russian public accepted a non-participation pact […]

Energy Blast – Oct 31, 2008

A boost in the price of crude oil helped Russia’s stocks to surge 20% yesterday, but the fluctuations in price are forcing some US oil majors to stall projects. Despite a record profit this quarter, Exxon Mobil is struggling to keep up with oil-producing nations who are keeping more oil for themselves in the face […]

Today in Russian Business – Oct 31, 2008

The financial crisis: Russia hasn’t seen anything like the worst of it yet, says this article. The country’s gold and foreign exchange reserves have fallen below $500 billion for the first time in eight months, with this week’s fall being the most dramatic yet. Russia’s bailout plan is seeing most of its money going to […]

RA’s Daily Russia News Blast – Oct 31, 2008

TODAY: Deripaska denied US visa due to ‘criminal associations’; Lavrov blames Georgia; Russian interests in Latin America provide an arms-export showcase; ‘half’ of Russians satisfied with government; Ingushetian president dismissed. US immigration reportedly denied a visa to oligarch Oleg Deripaska due to suspicions that he was involved in ‘criminal associations and relationships’. Foreign Minister Sergei […]

Technology’s Threat to Human Rights and Free Speech

[ATTN Lawyers and human rights activists: before you next use Skype, be sure to read this important report] Here is a question: should we be relieved or even more worried by the announcement this week that the top three internet giants have adopted a common set of principals known as the Global Network Initiative (GNI), […]

Putin’s Economic Legacy

From Robert Skidelsky in the Financial Times: Despite the professionalism of the rescue mounted by the finance ministry and central bank – and the budgetary cushion provided by the stabilisation fund, brainchild of Andrei Illarionov, Mr Putin’s discarded economic adviser – Russia carries a heavy burden of political risk. This is the real economic legacy […]