Two versions of the surprising and murky Rosneft deal, one 😋 pro (Rosneft's Triumph) and one 😖 con (The Story That Russia Does Not Want You To See)--strategic genius or shell game?
Either way, the complexity and lack of transparency of the convoluted Rosneft deal, which is key to meeting Russia's budget target this year and to Russia's privatization program, strongly suggest economic reform is captive to Russia's political sclerosis and, therefore, economic growth is an ever more distant prospect. 😔
The Rosneft deal is such an intriquing piece of legerdemain that, in addition to the two points of view cited, this update by Anders Aslund is a worthwhile read.
ReplyDeletehttp://intersectionproject.eu/article/economy/rosneft-privatization-reality-or-fraud
For some time it has seemed Russian budget accounting was becoming increasingly creative and deceptive, including intertwining government and government corporate accounts and moving funds through cross-holdings by government, corporates and banks. The true state of the government budget and Russia's financial health is increasingly difficult to discern.