Monday, April 25, 2005

Putin the Enigma

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Vladimir Putin believes the collapse of the Soviet Union was "...the greatest geopolitical catastrophe of the century,". He also talked of attracting foreign investment:

But Putin emphasized Monday that Russia needs foreign investment, and the "rules of the game" must be clear to attract it.

Ways must be found to collect taxes that "ensure the rights of state and don't destroy the economy or drive business into a dead end," Putin said.
He also said rules on defining strategic sectors where foreign investment would be restricted should be established.


Last month, Putin tried to reassure business leaders that a spate of back-tax investigations, apparently spurred by the politically charged probe against the Yukos oil company, would be brought under control.

Any reassurance was largely dispelled, however, when Anglo-Russian oil company TNK-BP was slapped with a $1 billion back-tax bill weeks later and antitrust authorities blocked a planned investment by Germany's Siemens AG.

Analysts said the question was whether Putin would follow through on his words. That was reflected in the fact that Russia's benchmark RTS index remained flat following the speech.

As a business owner, there is no way in hell I'd invest anything in Russia until Putin gives absolute, no bullshit examples as to what he plans in the future.

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