Exclusive outtakes from industry leaders
Russian banking and aviation magnate Alexander Lebedev, owner of London’s Evening Standard, estimates that Russian bureaucrats have pocketed $500 billion in bribes in the past four years and corruption and red tape make Russia one of the worst places to invest on earth.
On the scale of bureaucratic outrages, Lebedev hit a personal low when the authorities asked him to produce a 100 page report on bee poo. They claimed to be concerned about the excrement produced in the hives at one of his farms.
“The conditions for entrepreneurship in Russia are simply horrible,” Lebedev told the Reuters Russia Investment Summit.
Lebedev has plenty of suggestions how to cure the disease. One of them would be to fire at least half the bureaucrats. “They are wealthy people. Let them go to Saint-Tropez,” he said.