From Russia with caution

BNN – Business News Network

With investors flocking to oil-producing countries, Russia has seen an influx of foreign money flowing into the country—including $2.5 billion US from mutual funds since December. But those investments are not without serious risk, according to Bill Browder, CEO of Hermitage Capital.

Browder was at one point the largest foreign investor in the country. But that was before the government tried to seize his assets and allegedly jailed and killed his lawyer.

“Basically people aren’t saying ‘look at Russia what an attractive country it is, we want to invest there’, what it comes down to is oil prices are $120 a barrel and people are looking around saying what countries, what public markets and what equities can I buy that are going to get me exposure to oil,” he tells BNN. “Russia, in spite of its problems, still gets a little bit of that money.”

But Browder has a warning for investors and businesses looking to tap into Russia’s oil boom: “If you are a corporation and you go to Russia, the police will come to you and try and shake you down for bribes and extortion, and if you give them bribes, then you end up violating the Foreign Corrupt Practices Act of the U.S. or the Anti Bribery Act in the UK or the equivalent in Canada.”

“There’s not a way you can go to Russia and live by Western rules and expect to live comfortably by Russian rules, which is the criminal shakedown,” he adds. срочный займ займ онлайн https://zp-pdl.com https://zp-pdl.com/apply-for-payday-loan-online.php онлайн займ