One of the dominant export-oriented industries in Russia, oil is a
major source of tax revenue and wealth. The privatization of these
vast assets has made the industry a site not only for conflict
between power holders but also a strategic target for international
corporations and Western governments. In this thoughtful analysis,
a group of international specialists explores the political and
economic issues and controversies surrounding the oil industry's
move to capitalism. The authors examine the spread of crime and
corruption, the role of Russian and Western financial institutions,
regional tensions, and the international dimension. As a paradigm
for the Russian economy as a whole, the case of oil industry
provides invaluable insights for understanding the political and
economic problems confronting Russia today.
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