ENGLISH

Russia's Oil Barons and Metal Magnates: Oligarchs and the State in Transition

By Stephen Fortescue

Book information

Publisher
Palgrave Macmillan
Year
2007
ISBN
1403986177, 9781403986177
LCC
HC340.12 .F673 2006
Open Library ID
OL22741867M
Language
english
Format
PDF
Filesize
730 kB (748002 bytes)
Pages
250\250
Topic
Geography Russia
Orientation
yes
Scanned
no
Time added
2010-05-31 00:48:14

Description

The interesting aspect of Fortescue's book is how he manages to present the Russian oligarchs in a somewhat more favourable light. By now, the predominant view inside and outside Russia is that the oligarchs acquired their assets by virtually looting the new post-communist nation. When ownership and rules were extremely vague.

The book steps through the 90s, looking at the top companies ruled by the oligarchs. Like Yukos or Norilsk Nickel. The author describes numerous managerial decisions made, like centralising authority, or continuing to open or close mines. The mechanisms of transfer pricing are explained. Where often value was extracted from the companies and then moved overseas.

A key part of the book is how taxes are paid (or not) to the government. The minimisation of this was a major charge against them, in the eyes of the government.

The book does suggest that some of the oligarchs' actions were reasonable business decisions, in the context of their environments.

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