The Russian election

The certain good news from Russia for the oil and gas industry is that the Communist Party no longer controls legislation in the Duma, or lower house of parliament. The rest remains a muddle.It's worth cheering that 60% of the Russian electorate voted in December's parliamentary election. But that welcome exercise of democracy is yesterday's news. It makes meaning of outcome no less a puzzle.Oil companies should be wary. They increasingly get called to account when governments with which they do business misbehave. Moscow is as prone to misbehavior as ever, as President Boris Yeltsin demonstrated recently with his truculent reminder to the US that Russia possesses nuclear weap...

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