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Unformatted text preview: number of big domestic promises during the presidential race, including plans to usher in sweeping pension
and wage hikes. He also put forth "a rather ambitious military modernization program," Pifer says. "If oil prices remain
high, he might be able to do all of those things," Pifer says. "If prices come down, however, Putin will have some very
tough decisions to make at home ... between guns versus butter." Should oil and gas prices tumble, experts say Putin would
likely pick butter. "In 2007 when oil was doing well, Putin [as president] could have modernized the Russian military,"
says Pifer. Instead, Putin made a number of economic moves, such as the creation of a rainy day fund that was used during
the recent global financial crisis," Pifer notes. What's more, Putin returns to power with his sharp eyes locked on his
opposition, which is composed of the country's urban, middle-class populations. Experts agree that Putin would be hardpressed to break his pension and wage promises in favor of a few more missiles . But even an economically weaker Russia
would likely pick its spots to block Washington's desires. "They have a very sovereigntist, non-interventionalist view of
world affairs," Burwell says. That means Moscow fundamentally opposes Western efforts to boss around the world's
strongmen, with which Russian leaders have much in common. "The Russian also have real hard-core, national,
commercial and other interests in both Iran and Syria that cannot simply be ignored," Burwell says. 238 Oil DDW 2012 1 Reforms Turn 239
Last printed 9/4/2009 7:00:00 PM Oil DDW 2012 1 Slower economic growth in Russia if it doesn’t enact reforms
Ira Iosebashvili and Alexander Kolyandr, 2012, Russian Minister Calls For Economic Reforms,
MOSCOW—Russia is doomed to slower economic growth if it doesn't enact reforms, the economy minister warned on
Wednesday, while a top banker urged efforts to cut the country's dependence on global demand and finance.
Prime Minister Vladimir Putin has touted economic achievements in his bid to return to the presidency. But on Monday
Fitch Ratings cut the outlook on Russia's debt, citing political uncertainty following large protests against disputed
parliamentary elections, as well as continued dependence on oil prices.
If Russia's legal system is not improved, corruption continues and a way is not found to deliver investment to key sectors ... 240 Oil DDW 2012 1 AT: Reforms Now 241
Last printed 9/4/2009 7:00:00 PM Oil DDW 2012 1 Gazprom reform is not coming – statements and Africa prove
Oputa 2/7/12 [Sunny Oputa, Senior Fellow and a Political Analyst on Nigerian Affairs at Afripol.Org, is the
CEO Rence-Mannix Inc and Publisher of Energy & Corporate Africa,
Those who are thinking that Gazprom – the Russia...
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This note was uploaded on 01/30/2013 for the course ECON 101 taught by Professor Burke during the Spring '13 term at Southern Arkansas University.
- Spring '13
- The American