Putin’s return to power could strain ‘reset’ with West

continued from page 2

Question of the Day

Is it still considered bad form to talk politics during a social gathering?

View results

While all this was judged to be the start of Mr. Putin’s push for the presidency, the timing of the announcement came as somewhat of a surprise. Most analysts had predicted that he would announce his decision to run after December’s parliamentary elections.

Analysts have suggested a looming economic crisis — the ruble fell to its lowest rate against the dollar in two years last week — forced Mr. Putin’s hand as he looked to assure ordinary Russians and foreign investors that the country is in safe hands.

But with Russia already having lost $30 billion in oil revenues this year, not everyone is convinced that Mr. Putin is the man to reassure investors.

“Many foreign investors really hoped that Dmitry Medvedev would stand for a second term,” said Yulia Bushuyeva, managing director of the Moscow-based Arbat Capital investment fund. “They associate Medvedev with modernization, reforms and the fight against corruption.

Putin’s return signals that there is no point in expecting large reforms for potentially the next 12 years,” she added.

Comments
blog comments powered by Disqus
TWT Video Picks