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

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English

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250

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Book 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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Stephen Fortescue

Stephen Fortescue is the Deputy President of the University’s Academic Board and Director of Postgraduate Research for the Faculty of Arts and Social Sciences. He is a political scientist in the School of Social Sciences and International Studies, whose research is focused on the contemporary Russian policy-making process and the Russian mining and metals industry.

Stephen’s most recent monograph is Russia’s Oil Barons and Metal Magnates (2006, Palgrave) which offers an analysis of the role of the so-called oligarchs in the post-Soviet Russian political economy. His next book is to be on the relationship between personalist and institutionalized politics in Russian policy-making, with taxation as the main case study. He publishes regularly on a wide range of issues related to Russian mining and metals. He currently supervises research students working on the Russian gas industry, environmental policy in Russia, and on various business and politics topics not related to Russia.

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