Today the Wall Street Journal is reporting that the British bank Barclays is looking to raise some $10 billion in capital from Kremlin-controlled banks Sberbank and VTB. The bank has studiously avoided any government bailout plan in the UK, which could result in restrictions on dividend payments and state influence over board seats. However it seems unclear how Barclays feels about Russian government influence over their operations. So what has led this fine British financial institution to the doors of the Kremlin? Barclays CEO John Varley has been strenuous about his opposition to state intervention in the banks, commenting that “Those who have government shareholdings will be more constrained in their strategic and operational flexibility than those who are independent. (…) There will be some people in the employment market in the United Kingdom who will make the judgement that they don’t want to work for an organization that is controlled by government.” Varley, it should be noted, does not comment about what it would be like to work for a foreign government, or how it would impact the performance of a bank.