The Russian corporation
Year: 2022

This chapter offers some general observations about the dynamics of state-business relations in Russia, with a focus on firms with foreign connections: the oil and gas industry and those impacted by sanctions. The Soviet economy was built around a network of giant corporations controlled by a hierarchy of central planners and political overseers. In the 1990s, the collapse of the centrally planned economy and the turbulent privatisation of state-owned assets led to the emergence of a new set of