Latest Articles about Economics

Russia’s Hired Lobbies in the West
Russia's attempts to promote a positive image of being a "reliable energy supplier" as well as a safe and profitable haven for foreign investments have played a significant role in Russian policy. To achieve this goal the Russian government and state-owned companies have hired Western... MORE

Putin Opts for a Large Deficit and Small Investment 2010 Budget
Prime Minister Vladimir Putin made his cabinet agree on a budget for 2010 that contains few anti-crisis ideas and hardly fits into the directives on stimulating innovations issued by President Dmitry Medvedev. As such, this budget proposal, which will be duly approved by the compliant... MORE

Skype and ICQ Face Ban in Russia
When the Russian state initiates an executive order to inspect citizens' mail (EDM, July 21), it is the regime's idea of business as usual. However, when big business initiates harsh legislation to ban foreign competition and invokes national security as the rationale, it might seem... MORE

Gazprom’s Investment Strategy Runs out of Steam
Russian state-run gas giant Gazprom has cut its investment program in response to the difficulties it faces in the current economic downturn. These cost-saving measures contrasted sharply with Gazprom's pledge last year to become the world's largest company. Such efforts were supported by the Russian... MORE

Russia-Germany: an Asymmetric “Strategic Partnership”
Russian President Dmitry Medvedev and German Chancellor Angela Merkel headed large governmental delegations for bilateral talks on July 16 in Munich. The process, known as Russo-German inter-governmental consultations, involves informal semi-annual summits at which leading business representatives join the cabinet ministers on either side. The... MORE

Erdogan Offers Turkish Mediation in Israeli-Syrian Talks
Prime Minister Recep Tayyip Erdogan paid a one-day visit to Syria, which involved discussions on Turkey's mediator role between Israel and Syria. Erdogan and the Syrian President Bashar Assad discussed bilateral relations, regional developments and Turkey's peacemaking role in the region. Assad requested Turkey's mediating... MORE

Oil Excavation Crisis in Cyprus Threatens Turkish-Greek Cypriot Negotiations
The U.N.-led peace talks launched by the Turkish Cypriot leader Mehmet Ali Talat and his Greek Cypriot counterpart Dimitris Christofias in September 2008 aiming to find a comprehensive solution to the Cyprus problem has entered a new phase. On July 20 at the Peace and... MORE

Moscow Pressures Hungarian MOL’s Russian Joint Venture
Whether by coincidence or design, Russian authorities are threatening to stop the Hungarian MOL company's oil extraction in Russia at the same time as Surgut Neftegaz appears to be forcing its way into MOL's ownership in Hungary (EDM, April 3, 6, 22, June 10, 24).... MORE

Azerbaijan Boosts Implementation Prospects of Nabucco Inter-Governmental Agreement
The inter-governmental agreement (IGA) on the Nabucco project, signed on July 13, depends existentially on Azerbaijan for start-up and first-phase gas supplies. Azerbaijan remains a staunch supporter of Nabucco and other components of the E.U.'s Southern Corridor project, but not an unconditional supporter to be... MORE

Russian “Water,” Machismo and National Decay
One traditional resource which Russia has valued beyond hydrocarbons and land is vodka, the nation's traditional moral and physical painkiller. Nikolai Kostomarov, a nineteenth century Russian historian, wrote that at the dawn of Russian history a feast was a major social event, with the goal... MORE