The Financial Times is running a Russia supplement tomorrow, with a number of interesting articles, including the following bit from Leyla Boulton on the climate of fear and theft survived by businesses working in Russia.  I’ve noticed that it’s become rather customary to give BP a good kick in the ribs whenever a discussion of political risk and corruption comes up in the Russian context…

Equally important, say some foreign investors, is upholding one’s corporate culture in the face of local pressures to do otherwise.

“There can be no doubt on your stance on corruption,” says Elizabeth Sullivan, chief operating officer in Russia of UBS, the Swiss bank, whose message is targeted at both external parties and employees. “You have to keep saying ‘we don’t pay bribes’ and lead by example if necessary.”