Hans-Joerg Rudloff, who heads Barclays Capital, the investment branch of the British bank Barclays, said at the Russian Economic Forum in London on April 23 that the Russian financial boom cannot be sustained and will reach a painful end "in the near future," the "Financial Times" reported on April 24. Rudloff, who is reportedly well-connected in Russia and holds a seat on the board of Rosneft, has generally been considered to be a supporter of President Putin's policies, the daily added. Rudloff argued that Russia's "boom is not sustainable...and there will be downturns. There will be more difficulties." He stressed that "there's no soft landing after such excessive rewards" as investors have reaped in "the last seven years." The conference is taking place without the usual top-level Russian government and business participants, who decided not to attend at the last minute after reported Kremlin intervention. // Copyright (c) 2005. RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave., N.W. Washington DC 20036. RFE/RL


Publication date: 25 April 2007   

Source:

Archive