Russia

Reason Writers Around Town: Cathy Young on Corruption in Russia

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At The Daily, Contributing Editor Cathy Young reports that the oil company BP has become the latest victim of Russia's corrupt practices:

A day after the signing of an Arctic exploration deal between Exxon Mobil and Rosneft, the state-controlled Russian oil company, the wrath of Russian law came down on BP — whose rival deal with Rosneft was scuttled a few months ago. On Wednesday, BP's Moscow offices were invaded by bailiffs, police and machine gun-toting special forces soldiers. The court-sanctioned raid was related to a lawsuit by Russian shareholders, and the plaintiffs' attorneys claim the timing was pure coincidence. Still, for many observers, this fiasco is a reminder that 20 years after the fall of communism, Russia remains an unpredictable and often hostile environment for business.

Read all about it here.

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