PrintJanuary 21, 2011
BP's Russian Gambit
Oil major BP has announced another foray into the Russian market despite being burned many times in the past by Russia's fundamental corruption. It should reconsider. Both the empirical facts and basic morality dictate disengagement from the Russian market.A look at Russia's most recent national report card ought to be more than enough proof for any investor that Russia is no-man's land.From the Heritage Foundation emerges Russia's score in economic freedom: an F. Russia is ranked #143 out of 183 countries reviewed, roughly the bottom quartile of the planet. The instructor opines that the student (Russia's judicial system) is "unpredictable, corrupt and unable to handle technically sophisticated cases." Did somebody say "dunce cap"?But Russia aced economic freedom compared to its other subjects this term.From Freedom House, for instance, comes Russia's grade in political liberty, another F. Russia is "not free" -- one of less...(Read Full Article)
