Analysis: For Putin, tax reform could be harder than winning
MOSCOW (Reuters) – Winning Russia’s March presidential election could be the easy part for Prime Minister Vladimir Putin, who has called for a “decisive tax maneuver” to put the country’s increasingly oil-dependent public finances on a more sustainable footing.
Although Russia, the world’s largest energy producer, ran a fiscal surplus last year thanks to strong oil prices, the high and rising price at which the budget balances poses the real risk of a fiscal crisis in the next six-year presidential term.
Putin is on a collision course with change
By Jason Bush
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
For 12 years, Vladimir Putin has presided over a Potemkin democracy. And everyone, especially Putin himself, seemed strangely convinced that he could keep up the charade indefinitely. But in 2011, Russians’ patience with Potemkin politics unexpectedly snapped. In 2012, the big question will be how Putin responds.
Russia withstands euro zone contagion but risks rising
MOSCOW (Reuters) – While rising internal political risks in Russia have grabbed the spotlight, the most serious economic threats are external and a shock would complicate Prime Minister Vladimir Putin’s bid to return to the Kremlin.
Russia is showing economic resilience amid international financial turmoil, which it is better able to withstand than in the past. But contagion effects from the euro zone threaten an already shaky recovery through weakening exports and capital flight as banks cut exposure to Russia.
Analysis: Russia withstands euro zone contagion but risks rising
MOSCOW (Reuters) – While rising internal political risks in Russia have grabbed the spotlight, the most serious economic threats are external and a shock would complicate Prime Minister Vladimir Putin’s bid to return to the Kremlin.
Russia is showing economic resilience amid international financial turmoil, which it is better able to withstand than in the past. But contagion effects from the euro zone threaten an already shaky recovery through weakening exports and capital flight as banks cut exposure to Russia.
Russian delay adds to Polyus UK listing concerns
(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own)
By Jason Bush
MOSCOW, Oct 28 (Reuters Breakingviews)- Polyus (PLZL.MM: Quote, Profile, Research)
must wait. The Russian goldminer’s plans for a premium London
listing and FTSE 100 inclusion suffered an unexpected setback
after the Russian government failed to sign off on Polyus’
change of address. The delay may be politically motivated. It
should remind London regulators that it is unwise to waive their
rules for Russian companies.
Exxon’s Russian coup rubs salt in BP’s wounds
(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.)
By Jason Bush
MOSCOW (Reuters Breakingviews) – BP’s pain is Exxon Mobil’s gain. Just months after the collapse of BP’s much-hyped tie-up with Russia’s state oil company Rosneft, the UK energy group’s U.S. rival has swooped in on the deal. Although not without risks, the latest agreement is a coup for Exxon — and a fresh blow to BP as it struggles to contain the damage from its Russian debacle.
Bank of Moscow’s debacle is profitable for some
(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own)
By Jason Bush
MOSCOW, Aug 2 (Reuters Breakingviews)- The mammoth $14
bail-out of the Bank of Moscow (MMBM.MM: Quote, Profile, Research) wasn’t a fiasco for
everyone. A month after the embarrassing rescue of the troubled
Moscow lender by state-owned banking giant VTB (VTBR.MM: Quote, Profile, Research), the
mysterious role played by Vitaly Yusufov, the son of a
former Kremlin official, is raising serious questions about the
affair.
Breakingviews-Bank of Moscow’s debacle is profitable for some
(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own)
By Jason Bush
MOSCOW, Aug 2 (Reuters Breakingviews)- The mammoth $14
bail-out of the Bank of Moscow (MMBM.MM: Quote, Profile, Research) wasn’t a fiasco for
everyone. A month after the embarrassing rescue of the troubled
Moscow lender by state-owned banking giant VTB (VTBR.MM: Quote, Profile, Research), the
mysterious role played by Vitaly Yusufov, the son of a
former Kremlin official, is raising serious questions about the
affair.
Germany should be wary of Gazprom’s overtures
By Jason Bush
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
MOSCOW — Gazprom, the Russian gas group, may be seeking to buy a major stake in RWE. A deal could potentially shore up the shaky finances of Germany’s second largest electricity producer, and boost investment in the country’s power sector. But it would also raise serious competition concerns, and increase Germany’s reliance on expensive Russian gas.
Bank of Moscow exposes Russian regulatory void
By Jason Bush The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
The $14 billion rescue of Bank of Moscow shows that something must be badly wrong with bank supervision in Russia. The bailout amounts to almost half the assets of the country’s fifth-largest bank. Reforms are urgently needed. But new laws alone won’t eradicate the cronyist culture at the root of the mess.
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