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Russia Takes Double Punch As Vanishing Workers Fan Prices Bloomberg.Com – Global Edition by Olga Tanas 2014-09-17, T14:12:11Z
Russia Takes Double Punch as Vanishing Workers Fan Prices Bloomberg.com – Global edition By Olga Tanas 2014-09-17, T14:12:11Z Photographer: Andrey Rudakov/Bloomberg. An employee works on the assembly of a truck cabin on the production line at the OAO KamAZ plant in Naberezhnye Chelny, Russ The aging workforce is packing a double punch for the Russian economy The unborn generation of the 1990s, a period of hyperinflation and instability after the Soviet breakup, left the nation depleted of younger workers. Unemployment is at a record low, putting pressure on wages (RUMEREAL) and helping keep inflation near the fastest since 2011. The poor demographics are shaving 0.5 percentage point off economic growth a year, according to the Higher School of Economics in Moscow, which estimates the working-age population will shrink by as many as 15 million people, or more than the size of the Russian capital, by 2030. Aging populations are unsettling central bankers from Tokyo to Frankfurt in their struggle to prevent deflation as older workers tend to defer consumption in favor of savings. Russia faces the opposite threat: entrenched inflation that risks shackling monetary policy already lurching from one crisis to another since Crimea was annexed in March. “Taking into account low unemployment and tight supply on the labor market, wages will remain at a high level, affecting inflation,” said Natalia Orlova, chief economist at Alfa Bank in Moscow. With the central bank increasingly drawing attention to poor demographics, it’s “in effect saying it can do nothing for the economy, whose problems are structural in character.” Demographic Factor Russia is caught in a vise of elevated inflation and stalling economic growth. -
The Russia You Never Met
The Russia You Never Met MATT BIVENS AND JONAS BERNSTEIN fter staggering to reelection in summer 1996, President Boris Yeltsin A announced what had long been obvious: that he had a bad heart and needed surgery. Then he disappeared from view, leaving his prime minister, Viktor Cher- nomyrdin, and his chief of staff, Anatoly Chubais, to mind the Kremlin. For the next few months, Russians would tune in the morning news to learn if the presi- dent was still alive. Evenings they would tune in Chubais and Chernomyrdin to hear about a national emergency—no one was paying their taxes. Summer turned to autumn, but as Yeltsin’s by-pass operation approached, strange things began to happen. Chubais and Chernomyrdin suddenly announced the creation of a new body, the Cheka, to help the government collect taxes. In Lenin’s day, the Cheka was the secret police force—the forerunner of the KGB— that, among other things, forcibly wrested food and money from the peasantry and drove some of them into collective farms or concentration camps. Chubais made no apologies, saying that he had chosen such a historically weighted name to communicate the seriousness of the tax emergency.1 Western governments nod- ded their collective heads in solemn agreement. The International Monetary Fund and the World Bank both confirmed that Russia was experiencing a tax collec- tion emergency and insisted that serious steps be taken.2 Never mind that the Russian government had been granting enormous tax breaks to the politically connected, including billions to Chernomyrdin’s favorite, Gazprom, the natural gas monopoly,3 and around $1 billion to Chubais’s favorite, Uneximbank,4 never mind the horrendous corruption that had been bleeding the treasury dry for years, or the nihilistic and pointless (and expensive) destruction of Chechnya. -
Russia's 2020 Strategic Economic Goals and the Role of International
Russia’s 2020 Strategic Economic Goals and the Role of International Integration 1800 K Street NW | Washington, DC 20006 Tel: (202) 887-0200 | Fax: (202) 775-3199 E-mail: [email protected] | Web: www.csis.org authors Andrew C. Kuchins Amy Beavin Anna Bryndza project codirectors Andrew C. Kuchins Thomas Gomart july 2008 europe, russia, and the united states ISBN 978-0-89206-547-9 finding a new balance Ë|xHSKITCy065479zv*:+:!:+:! CENTER FOR STRATEGIC & CSIS INTERNATIONAL STUDIES Russia’s 2020 Strategic Economic Goals and the Role of International Integration authors Andrew C. Kuchins Amy Beavin Anna Bryndza project codirectors Andrew C. Kuchins Thomas Gomart july 2008 About CSIS In an era of ever-changing global opportunities and challenges, the Center for Strategic and International Studies (CSIS) provides strategic insights and practical policy solutions to decisionmakers. CSIS conducts research and analysis and develops policy initiatives that look into the future and anticipate change. Founded by David M. Abshire and Admiral Arleigh Burke at the height of the Cold War, CSIS was dedicated to the simple but urgent goal of finding ways for America to survive as a nation and prosper as a people. Since 1962, CSIS has grown to become one of the world’s preeminent public policy institutions. Today, CSIS is a bipartisan, nonprofit organization headquartered in Washington, DC. More than 220 full- time staff and a large network of affiliated scholars focus their expertise on defense and security; on the world’s regions and the unique challenges inherent to them; and on the issues that know no boundary in an increasingly connected world. -
The Siloviki in Russian Politics
The Siloviki in Russian Politics Andrei Soldatov and Michael Rochlitz Who holds power and makes political decisions in contemporary Russia? A brief survey of available literature in any well-stocked bookshop in the US or Europe will quickly lead one to the answer: Putin and the “siloviki” (see e.g. LeVine 2009; Soldatov and Borogan 2010; Harding 2011; Felshtinsky and Pribylovsky 2012; Lucas 2012, 2014 or Dawisha 2014). Sila in Russian means force, and the siloviki are the members of Russia’s so called “force ministries”—those state agencies that are authorized to use violence to respond to threats to national security. These armed agents are often portrayed—by journalists and scholars alike—as Russia’s true rulers. A conventional wisdom has emerged about their rise to dominance, which goes roughly as follows. After taking office in 2000, Putin reconsolidated the security services and then gradually placed his former associates from the KGB and FSB in key positions across the country (Petrov 2002; Kryshtanovskaya and White 2003, 2009). Over the years, this group managed to disable almost all competing sources of power and control. United by a common identity, a shared worldview, and a deep personal loyalty to Putin, the siloviki constitute a cohesive corporation, which has entrenched itself at the heart of Russian politics. Accountable to no one but the president himself, they are the driving force behind increasingly authoritarian policies at home (Illarionov 2009; Roxburgh 2013; Kasparov 2015), an aggressive foreign policy (Lucas 2014), and high levels of state predation and corruption (Dawisha 2014). While this interpretation contains elements of truth, we argue that it provides only a partial and sometimes misleading and exaggerated picture of the siloviki’s actual role. -
The Siloviki in Putin's Russia
Ian Bremmer and Samuel Charap The Siloviki in Putin’s Russia: Who They Are and What They Want The July 2006 meeting of the Group of Eight (G-8) major indus- trialized nations in St. Petersburg focused the attention of the international media on Russia. On issues ranging from Middle East conflict to energy se- curity, President Vladimir Putin sought to demonstrate that his increasingly self-confident government has earned its seat at the G-8 table. Coverage of the summit focused squarely on Putin—his international priorities, control over domestic politics, personal relationships with other heads of state, and leadership style. These stories created the impression that Putin is Russian politics, reinforcing the view that to understand Putin himself is to under- stand Kremlin policy. Since Putin was named acting president on December 31, 1999, ana- lysts have poured over his personal history, public statements, and writings, confidently forecasting political and economic trends based largely on their interpretations of what they found. Those who portray him as an autocrat underline his KGB background. Others point to his tutelage under former St. Petersburg mayor and liberal reformer Anatoly Sobchak or his preference for pragmatism over ideology. Recently, Western scholars unearthed his doc- toral thesis and used it to explain Russian state involvement in the energy sector.1 President George W. Bush famously contributed to this line of analysis by implying in 2001 that his “sense of the man’s soul” provided a reliable foun- dation for U.S.-Russian relations. Despite its parsimony and popularity, this approach to understanding Kremlin policy, which some have called “Putinol- ogy,” creates a misleading impression of how Russia is ruled. -
Elections in Russia in 2011-2012: Will the Wind of Change Keep Blowing?
In: IFSH (ed.), OSCE Yearbook 2012, Baden-Baden 2013, pp. 77-94. Elena Kropatcheva Elections in Russia in 2011-2012: Will the Wind of Change Keep Blowing? Introduction Russians have long had the reputation of being passive about, uninterested in, and disengaged from politics, and Western observers, in particular, have been puzzled by this passivity. Protests that started in December 2011 as a re- sponse to election fraud during the Russian parliamentary elections, labelled in the mass media as the “new Decembrists” movement, “the Russian winter/ spring”, the “mink-coat” or “white revolution” and described using other col- ourful epithets, too, took many observers abroad and in Russia by surprise. These were the biggest protests since the 1990s. These events raised many questions: Who are these people who have started to protest? What are the reasons for these protests and why did they begin at that specific moment? How stable is Vladimir Putin’s system over- all? Will some liberalization of the system as a result of these protests be pos- sible? And many others. Even now, at the time of writing – August 2012 – it is difficult to give clear and definite answers to these questions, and some of them still have to be studied more closely by sociologists.1 This contribution starts with an overview of the parliamentary and presidential elections (election campaigns, their results and aftermath) that took place in Russia on 4 December 2011 and 4 March 2012, respectively. It then focuses on the protest movement and tries to give some answers to the aforementioned questions. Finally, it presents a survey of developments in Russian domestic policy after the elections in order to find indicators as to whether this wind of change will keep blowing. -
8-11 July 2021 Venice - Italy
3RD G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS MEETING AND SIDE EVENTS 8-11 July 2021 Venice - Italy 1 CONTENTS 1 ABOUT THE G20 Pag. 3 2 ITALIAN G20 PRESIDENCY Pag. 4 3 2021 G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS MEETINGS Pag. 4 4 3RD G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS MEETING Pag. 6 Agenda Participants 5 MEDIA Pag. 13 Accreditation Media opportunities Media centre - Map - Operating hours - Facilities and services - Media liaison officers - Information technology - Interview rooms - Host broadcaster and photographer - Venue access Host city: Venice Reach and move in Venice - Airport - Trains - Public transports - Taxi Accomodation Climate & time zone Accessibility, special requirements and emergency phone numbers 6 COVID-19 PROCEDURE Pag. 26 7 CONTACTS Pag. 26 2 1 ABOUT THE G20 Population Economy Trade 60% of the world population 80 of global GDP 75% of global exports The G20 is the international forum How the G20 works that brings together the world’s major The G20 does not have a permanent economies. Its members account for more secretariat: its agenda and activities are than 80% of world GDP, 75% of global trade established by the rotating Presidencies, in and 60% of the population of the planet. cooperation with the membership. The forum has met every year since 1999 A “Troika”, represented by the country that and includes, since 2008, a yearly Summit, holds the Presidency, its predecessor and with the participation of the respective its successor, works to ensure continuity Heads of State and Government. within the G20. The Troika countries are currently Saudi Arabia, Italy and Indonesia. -
Russia's International Activity in Response to the Global Financial
BULLETIN No. 37 (37) June 25, 2009 © PISM Editors: Sławomir Dębski (Editor-in-Chief), Łukasz Adamski, Bartosz Cichocki, Mateusz Gniazdowski, Beata Górka-Winter, Leszek Jesień, Agnieszka Kondek (Executive Editor), Łukasz Kulesa, Ernest Wyciszkiewicz Russia’s International Activity in Response to the Global Financial Crisis by Jarosław Ćwiek-Karpowicz Russia has striven to exploit the global financial crisis to bolster its international position. The build- ing of an international coalition of developing states, which Russia wants to head, is a means to that end. Among other things, the Russian authorities have championed new regional powers’ increased participation in international financial institutions, at the expense of the U.S. and other Western state. These efforts of the Russian Federation are laden with the risk of failure, primarily because of the Russia’s weak economic potential and vastly diverse interests of the prospective coalition members. This June Russia launched a major push on the international forum. Representatives of global business, science and politics had an opportunity to exchange views during the St. Petersburg International Economic Forum (4–6 June) dubbed “a Russian Davos.” Several days later Moscow hosted a summit of the Collective Security Treaty Organization (CSTO) and a meeting of the Inter- state Council of the Euro-Asian Economic Community (EAEC)—two foremost (from Russia’s pers- pective) initiatives to reintegrate the post-Soviet area. From there, the leaders of China, Russia, India, Brazil, Pakistan, Afghanistan and the Central Asian states met in Yekaterinburg (16–17 June) at Shanghai Cooperation Organization (SCO) and Brazil–Russia–India–China (BRIC) summits. A majority of these meetings were attended by Russian President Dmitry Medvedev whose addresses were focused on international financial crisis issues and on the need to overhaul the international financial system. -
Domestic Gas Prices in Russia – Towards Export Netback?
Domestic Gas Prices in Russia – Towards Export Netback? James Henderson NG 57 November 2011 i The contents of this paper are the authors’ sole responsibility. They do not necessarily represent the views of the Oxford Institute for Energy Studies or any of its members. Copyright © 2011 Oxford Institute for Energy Studies (Registered Charity, No. 286084) This publication may be reproduced in part for educational or non‐profit purposes without special permission from the copyright holder, provided acknowledgment of the source is made. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the Oxford Institute for Energy Studies. ISBN 978‐1‐907555‐38‐1 ii Preface While most of the publicity and focus of Russian and CIS gas research is on exports to Europe and other potential markets, over the past few years OIES Gas Programme research has increasingly concentrated on domestic gas markets in these countries, especially the Russian Federation. With Russian gas demand in excess of 400 Bcm/year, the issue of how gas should be priced is of considerable importance, particularly given the start of much higher cost Gazprom production from Arctic fields in 2012. The announcement in 2006 that Russian domestic prices would be raised to European netback levels by 2011 caused much excitement both within and outside Russia. The reality has been less dramatic but as Jim Henderson ably demonstrates this is partly because of completely unforeseen developments in European gas pricing, largely driven by higher oil price levels than anybody believed possible five years ago. -
The Militarization of the Russian Elite Under Putin What We Know, What We Think We Know (But Don’T), and What We Need to Know
Problems of Post-Communism, vol. 65, no. 4, 2018, 221–232 Copyright © 2018 Taylor & Francis Group, LLC ISSN: 1075-8216 (print)/1557-783X (online) DOI: 10.1080/10758216.2017.1295812 The Militarization of the Russian Elite under Putin What We Know, What We Think We Know (but Don’t), and What We Need to Know David W. Rivera and Sharon Werning Rivera Department of Government, Hamilton College, Clinton, NY This article reviews the vast literature on Russia’s transformation into a “militocracy”—a state in which individuals with career experience in Russia’s various force structures occupy important positions throughout the polity and economy—during the reign of former KGB lieutenant colonel Vladimir Putin. We show that (1) elite militarization has been extensively utilized both to describe and explain core features of Russian foreign and domestic policy; and (2) notwithstanding its widespread usage, the militocracy framework rests on a rather thin, and in some cases flawed, body of empirical research. We close by discussing the remaining research agenda on this subject and listing several alternative theoretical frameworks to which journalists and policymakers arguably should pay equal or greater attention. In analyses of Russia since Vladimir Putin came to I was an officer for almost twenty years. And this is my own power at the start of the millennium, this master narrative milieu.… I relate to individuals from the security organs, from the Ministry of Defense, or from the special services as has been replaced by an entirely different set of themes. ’ if I were a member of this collective. —Vladimir Putin One such theme is Putin s successful campaign to remove (“Dovol’stvie voennykh vyrastet v razy” 2011) the oligarchs from high politics (via prison sentences, if necessary) and renationalize key components of the nat- In the 1990s, scholarly and journalistic analyses of Russia ural resource sector. -
Miller - Russias Frozen Economy
DECEMBER 2014 RUSSIA’S FROZEN ECONOMY By Chris Miller Chris Miller, Associate Scholar of the Foreign Policy Research Institute, is a Ph.D. candidate at Yale. In 2012- 2014, he worked as a visiting researcher at the Carnegie Moscow Center while on an Alfa Fellowship and taught history at the New Economic School, a university in Moscow. He is currently completing a book manuscript on the collapse of the Soviet Union. December temperatures in Russia’s Siberian cities often reach 40 below zero, but the freeze that threatens Russia today has nothing to do with the winter cold. Russia’s economy is frozen. Western sanctions designed to punish Russia for invading Ukraine have deterred investment, while plummeting oil prices have substantially reduced Russia’s main source of export revenue. GDP growth will be basically flat this year, and will be no better in 2015. The rise in living standards, the foundation of Russian President Vladimir Putin’s popularity, has ground to a halt. At the trough of the 2008-2009 crisis, Russia’s economy performed worse, but it was clear that the financial crisis was caused by external factors. Today the opposite is true. Sanctions and a worsening business climate are direct consequences of Vladimir Putin’s policies. Even the shock created by declining oil export revenues, which is caused by global supply and demand factors, reflects poorly on Putin, because despite the advice of many economists he has declined to diversify Russia’s economy away from energy exports. That now looks foolish. The deep freeze gripping Russia is not simply an economic problem. -
The International Monetary and Financial
April 2016 The Bulletin Vol. 7 Ed. 4 Official monetary and financial institutions ▪ Asset management ▪ Global money and credit Lagarde’s lead Women in central banks Ezechiel Copic on gold’s boost from negative rates José Manuel González-Páramo on monetary policy Michael Kalavritinos on Latin American funds Christian Noyer on threat to London’s euro role Paul Tucker on geopolitics and the dollar You don’t thrive for 230 years by standing still. As one of the oldest, continuously operating financial institutions in the world, BNY Mellon has endured and prospered through every economic turn and market move since our founding over 230 years ago. Today, BNY Mellon remains strong and innovative, providing investment management and investment services that help our clients to invest, conduct business and transact with assurance in markets all over the world. bnymellon.com ©2016 The Bank of New York Mellon Corporation. All rights reserved. BNY Mellon is the corporate brand for The Bank of New York Mellon Corporation. The Bank of New York Mellon is supervised and regulated by the New York State Department of Financial Services and the Federal Reserve and authorised by the Prudential Regulation Authority. The Bank of New York Mellon London branch is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Products and services referred to herein are provided by The Bank of New York Mellon Corporation and its subsidiaries. Content is provided for informational purposes only and is not intended to provide authoritative financial, legal, regulatory or other professional advice.