Russia’s investment climate is still getting worse

Alexandra Prokopenko Alexander Kolyandr

Hello! Welcome to your weekly guide to the Russian economy, written by Alexandra Prokopenko and Alexander Kolyandr and brought to you by The Bell. This week our top story is a look at what Exxon Mobil’s possible return to Russia, and charges against a billionaire food manufacturing tycoon, tell us about Russia’s investment climate. We also look at increasing official pessimism about economic growth this year.

What can Western companies expect if they return to Russia?

What does U.S. oil major Exxon Mobil’s possible return to Russia have in common with accusations of extremism against Russian food manufacturer Denis Shtengelov? Both show that the investment climate in Russia is only getting worse, despite the thaw in Russia-U.S. relations. For those without support at the highest political level, doing business in Russia is a big gamble.

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