ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

R G GidadhubliSubscribe to R G Gidadhubli

Yukos Affair

The Yukos affair is in line with the recent aggressive policy pursued by Russian president Putin against the oligarchs who control important sectors of the Russian economy. But Putin's actions may have been influenced by the duma elections later this year and next March's presidential elections as the oligarchs are also seen to have acquired significant political influence. The Yukos affair promises not only to affect the course of future foreign investment in Russia, it also raises questions as to whether Putin's Russia is backtracking from its declared path of political democracy and market economy.

Russia: Refurbishing the Military Industrial Complex

In the context of the numerous accidents involving Russian-made MiG aircraft in India, it is interesting to examine how the military industrial complex, which had disintegrated after the collapse of the Soviet Union is being remodelled and refurbished and the challenges it faces. The upgradation and modernisation programme and the promotion of R and D appear to be leading to a re-emergence of Russia as a major producer and exporter of arms in the world lagging behind only the US.

Russia: Oil and Politics

Under Vladimir Putin Russia has followed an aggressive energy policy enhancing the contribution of the oil and gas industry in the domestic economy. But as private companies gain dominance through mergers and foreign collaborations, a conflict of interest may emerge between the state and oil barons. Russia has become a major player in the world energy sector and has used oil as a weapon to achieve its foreign policy objectives through energy pipelines.

Russia : Looking Back on Stalin

In the 1980s there had been a surge of anti-Stalinist sentiment in the then Soviet Union and several publications had come out based on hitherto undisclosed material, documents and memoirs. By contrast, the 50th anniversary of Josef Stalin's death on March 5 this year brought to the surface evidence of growing nostalgia among sections of Russians for Stalin.

Delhi Summit and Putin's Larger Strategy

Russian president Vladimir Putin's visit to China, India and Kyrgyzstan in the first week of December was an important part of his effort to enhance Russia's international status from that of a big power to that of a great power in as short a time as possible.

Russia: Continuing Debate over 'Shock Therapy'

After a decade of change and transition, Russia is only part of the way to the goal that it had set itself of transformation to a developed market economy. The 'shock therapy' that it adopted rather than a gradual reform process appears to have generated some adverse developments in the economy and society.

Farm Land Law of Russia

The recently passed Farm Land Bill in Russia, reverses the ban on land ownership and promises to usher in far-reaching changes in Russian agriculture. Yet to be truly effective, the measure needs to be accompanied by a series of wider reforms to ensure that not merely the land mafia as is feared, but the middle level and poorer peasants benefit.

Russia's Military Industrial Complex

The end of the cold war combined with the collapse in demand for industrial goods as a result of the sluggish economy have severely constrained attempts to change the production patterns of the military industrial complex towards the manufacture of products for civilian use. With Russia's improving relations with NATO, its military production and trade may get a boost.

India-Russia Relations

The agreement on defence cooperation signed during prime minister Vajpayee's visit to Moscow carries forward the long-term programme of military collaboration between the two countries focusing on joint projects related to aviation, naval and military equipment and other military production. But the Indian government and business community need to look beyond military hardware and aim to capitalise on improved political and economic stability in Russia to regain for a wide range of Indian exports the position they once had in the Russian market.

Russia - Land Code: Compromise on Ownership

The Russian parliament last month approved the Land Code Bill, allowing limited private ownership of land for agriculture. The bill has strong dissenters, including the communist and agrarian parties, who have raised several important objections to the private ownership of agricultural land. Russia has to promote private ownership of land if it is to achieve its objectives of establishing a market economy and lure greater investment in agriculture. However, the government needs to ensure that such privatisation is not misused, benefiting a few at the cost of the larger interests of the country

Banking Sector in Russia

Given the growth of economic relations with the west and the prospect of a membership to the WTO, Russia needs genuine banking reforms. The most urgent of these have to do with the illsuited accounting system inherited from the Soviet era, the role of the regulatory body and ensuring an environment of healthy competition in the sector.

Russia vs Paris Club:Default on Debt Repayment

Russia, in the beginning of 2001, finds itself in danger of defaulting on its debt repayments to the Paris Club. One opinion believes that the Russian economy is in dire straits and in no position to repay. On the contrary, the west - including Russia's main creditor, Germany and other influential economists and rating agencies believe that the issue has been mismanaged by the Russian authorities. Not only is there lack of coordination among different branches of the Russian government, it has also been unable to contain capital flight and money laundering of funds that are desperately needed for ecnomic development.

Pages

Back to Top