[lbo-talk] Vladimir Putin's place in the ranks

[Peter Lavelle]

The long and short answer is: the Kemlin is not doing much about reducing dependence on oil. This why is a stabilization fund has been established. By year end $80 billion will bein the fund ($80 billion is a lot of money - the average monthy wage is $300). 

uvj at vsnl.com wrote:Peter Lavelle wrote:


> I basically agree with Chris. However, Gazprom's purchase of Sibneft remains >opaque. My sense is that after Abramovich paid himself a dividend of $2.3 billion >he transferred ownership of Sibneft (how much? I don't know) to Putin's inner >circle. Thus, the $13 billion paid for Sibneft came from a state-owned company to >Kremlin insiders (basically, the state paid itself with huge western loans).>>

What's the Russian government doing to reduce Russia's dependence on oil revenues? When Putin succeeded Yeltsin, he had said that Russia would have to use the technological strength of its military-industrial complex. Is there any progress in that direction?

Ulhas

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