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They all come crashing down

Here’s an interesting letter to the editor of the Financial Times

Sir, You write that BP will soon risk losing its grip on TNK-BP, its Russian joint venture (“Moscow axes TNK-BP visas“, July 1). It should be clear by now that in fact BP has already lost its grip. For foreign investors, especially in the oil business, Russia is like an oiled bamboo pole. One will only get up it so far before one inevitably comes crashing down. Romas Kinka Anglo-Baltic Information Consultancy London E9 7SN, UK