LEADER: Vladimir Putin in Russia’s first high speed train, December 2009. REUTERS/Ria Novosti/Alexei Druzhinin/Pool
Russian Railways Paid Billions Of Dollars To Secretive Private Companies -- Reuters
The state-owned rail giant, run by an old friend of President Vladimir Putin, has awarded vast sums to contractors who disguise their ownership, a Reuters investigation finds
MOSCOW - In the world’s biggest country, railways are still a route to riches. With nearly 1 billion passengers a year and $42 billion in annual sales, the state company Russian Railways is a giant commercial opportunity.
At its head is Vladimir Yakunin, an old friend and long-standing ally of President Vladimir Putin. He oversees a company that strikes international deals, issues bonds to major investors and plans hugely expensive new high-speed lines. By many measures, Russian Railways is a standard corporate colossus.
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Precious Post: Corruption Russian Style
My Comment: This is the second post (this week) from Reuters on Russian corruption. This is not breaking news in Russia .... everyone in Russia knows that this corruption exists. But kudos to Reuters for bringing this story to the world stage.
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