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Article: Big Brother: Kremlin Stokes Climate Of Fear As Probes Widen.(on corporations in Russia)
- Article from:
- NEFTE Compass
- Article date:
- April 29, 2004
- Author:
CopyrightCOPYRIGHT 2004 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In the brave new world of President Vladimir Putin, his hands free of past obligations after being re-elected for a second term, no oil company or oligarch is safe from the clutches of the Kremlin.
Russia's stock market feels it, too, collapsing from record highs, as investors -- tired of the market's volatility and scared by the government's crackdown on big business, especially Yukos -- pulled money out of equities. The Russian Trading System, Russia's main exchange, lost about 20% of its value in the last half of April.
The sell-off occurred despite the market being buoyed by oil prices that are near 10-year highs and a weakening US dollar relative to ...