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Today in Russian Business – September 16, 2010

State managers will just have to grin and bear the privatization process, says Finance Minister Alexei Kudrin, as he conveyed plans for an asset sale of greater scope than the $29 billion affair previously announced: the sale will in fact last five years, worth around $10 billion a year.  Sberbank is, according to this article, considered to be the ‘jewel in the crown’ of the privatization extravaganza, though it would seem that VTB is vying for that title.  An analysis in Reuters suggests that European companies who are deterred by Russia’s lack of corporate governance and widespread corruption should not approach the country with the same standards it applies to Europe, but rather be ‘patient’ with this growing market.  Nor should elections be feared, government officials apparently told potential foreign investors at the Reuters Russia Investment Summit this week, selling the positive side of political atrophy.  A boost for Oleg Deripaska in the Norlisk Nickel dispute, as Prosecutor General Yury Chaika has declared that evidence of violations in the code of conduct of the annual shareholders meeting at Norilsk Nickel has been found, backing assertions by the tycoon that Rusal was unfairly treated.