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Today in Russian Business – Nov 30, 2011

PricewaterhouseCoopers’ biannual survey has found that reported cases of economic crime have declined in Russia over the last two years, with 37% of respondents saying they had been a victim of economic crime in Russia over the last 12 months, a major decrease from 2009, when the figure was 71%.  The survey also found that internal corruption probes are rarely effective as almost a third of economic crimes committed by the company’s employees are blamed on senior management in Russia, compared to just 18% globally.  David Hearst of the Guardian gives his verdict, ‘Putinism, the selective autocracy that he created, is a giant car boot sale. The going rate is $50m for a governorship, $500,000 for a middle-ranking bureaucrat’.  The eurozone crisis might attract investors to Russia as a safe haven but it could also spark capital outflow, says this analysis of European currency gloom on Russia.  Vodka producer Russian Standard Vodka, owned by billionaire Roustam Tariko, has bought a 9.9% stake in flagging Polish rival Central European Distribution Corp.  According to Ria-Novosti, Russia and Cuba will embark upon a joint venture in the production of ammunition for Kalashnikov assault rifles.