Posts Tagged ‘FT’

09
February 2012

A dead man’s tale of Russian justice

Financial Times

Russian police have threatened a posthumous prosecution of Sergei Magnitsky, the lawyer who died in custody where he was detained on charges of tax evasion after accusing interior ministry officials, police and others of corruption. His relatives were advised that the prosecution might be dropped if they stopped trying to clear his name and pursue those responsible for his death.

Things had started badly in the Moscow courtroom that morning. A sour mood prevailed in the drab functional chamber. Up on the bench the presiding judge was already showing signs of irritation. He took his duties seriously and the accused was clearly making a mockery of proceedings by being dead.

Judge X was inherently a well-meaning man but he took a dim view of people being dead when they were due in court. He considered whether an exemplary punishment might be warranted as a warning to others not to be dead when they had serious charges to face.

Worse still, the accused was not only dead, he had refused to show up. Bad enough to stand trial while dead; unforgivable to skip the hearing altogether. In the cage that served as a dock, two guards stood on either side of the empty chair in case the accused tried to escape.

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28
November 2011

Sanctions urged on Russian officials over abuses

Financial Times

The Obama administration is coming under pressure from Congress to support sanctions on Russian officials who are known human rights violators in return for repealing a cold war-era law that could limit bilateral trade after Russia joins the World Trade Organisation.

The White House is concerned that sanctions would harm a tentative thaw in relations with the Kremlin and is instead proposing the establishment of a foundation to promote democracy in Russia, according to people with knowledge of the discussions.

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14
September 2011

Lebedev targets Russian secret police for damages

Financial Times

Russia’s secret police have long been immune to the law that they supposedly uphold, a state within a state that acts with virtual impunity in the tradition of its KGB forebears. But now, a disgruntled banker has decided to test just how aloof they are from the law, with a lawsuit filed on Tuesday in a Moscow court.

Alexander Lebedev, the billionaire owner of The Independent and Evening Standard newspapers in London, launched the lawsuit claiming damages of 350m roubles ($11.6m) to his business reputation following a raid by masked special forces on his National Reserve Bank in November.

The lawsuit is the first of its kind in Russia to target the FSB, according to Mr Lebedev. “It’s the first time to my knowledge that any one has tried this,” he said.

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21
February 2011

Risks of rushing back to Russia

FT.com

Oil prices are on the rise and suddenly it’s time to make sure you’re on the investment train to Russia again. And, despite a continued perception of higher risks associated with investing in the country, the early birds are already there, as a report in Monday’s FTfm explains.

While emerging market funds in general have seen big net outflows this year, according to EPFR, a global fund flow data provider, fund flows into Russia have been picking up. Russia-focused funds have gathered a total of $1.22bn in the year to date, against outflows of $2bn for China and $980m for India in the same period, EPFR data show.

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