Foreign investors can at least take some comfort in knowing who is in favour in Moscow. Much of Boris Yeltsin's old government remains in place, which should not be surprising since Mr Putin's rise was orchestrated by the existing establishment. One notable addition is German Gref, who heads the liberal Centre for Strategic Research and who has authored a radical 10-year economic strategy for Russia. Mr Kasyanov opposed elevating Mr Gref to deputy prime minister and disparaged his economic plan. Meanwhile, Mr Kudrin, a more sympathetic face for western investors, claims to have taken control of key finance, tax and anti-monopoly departments, though not without a struggle.
Some reform is possible.
But there may be some areas of agreement. Both Mr Putin and Mr Kudrin are pushing for rapid changes to Russia's muddled tax code, and a new law could be in effect as early as the end of the year. Mr Gref also wants a zero-deficit budget, more rigourous oversight of the banking sector and the simplification of registration for small business included in a grand economic strategy. The prime minister has yet to agree. But as Mr Gref's colleagues at the Centre for Strategic Studies readily admit, the real obstacle to progress is not poor laws but that economic and political power is concentrated in too few hands.