All civilization has from time to time become a thin crust over a volcano of revolution.

- Havelock Ellis

Russia: Not So Nice

So many want to see the world as they wish it to be, not as it shows itself. Russia is again demonstrating the corruption in their systems, if the appearance they are having journalists killed is not enough:

HOWEVER crude or unacceptable Russia's methods might seem to foreign investors, the Kremlin is still prepared to use them.

The months of pressure on Royal Dutch Shell over alleged environmental violations by its Sakhalin-2 development were widely suspected to be a cover for an attempt to secure Gazprom a substantial stake in the project.

And now Shell has offered to cede control over the $US22 billion ($28 billion) venture to the state-controlled gas giant.

The lesson for foreign energy companies operating in Russia is twofold: the state will have control over any significant project; and will use any means, including political, regulatory and legal pressure, to get it.
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posted at 07:12:22 on 12/12/06 by clearpolitics - Category: Economics - [Permalink]

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