This preview shows page 1. Sign up to view the full content.
Unformatted text preview: be called rogues. A Sino-Russian
alliance against the United States could only occur as a result of exceptionally shortsighted and
foolish policies on Washington's part. Today's Russia may not be pro-Western, but neither is it
anti-Western. [____] Putin is not a threat to the West
Jeffrey Mankoff, postdoctoral fellow at the John M. Olin Institute for Strategic Studies at Harvard
(Washington Quarterly, Summer, http://www.twq.com/07spring/docs/07spring_mankoff.pdf)
Underpinning this policy is not a desire to actively confront the West collectively or the United Sta tes
individually. Given the realities of contemporary Russian politics, Putin is about as pro-Western a
leader as Russia can be expected to have. One of the more popular explanations for
Litvinenko’s assassination in the Russian press suggests that disaffected members of the
security services orchestrated it to discredit Putin’s relatively nonconfrontational approach
toward the West. If that is indeed the case, the West has less to worry about from the success
of Putin’s consolidation of power in the Kremlin than from his inability to bring the security
services to heel. 25 | P a g e Russian Oil DA BDL
Article: Russia Stocks Rise to Week High as Oil Rallies Bloomberg, June 6, 2012, “Russia Stocks Rise To Week High as Oil Rallies, Utilities Jump,”
Russian stocks rose to one-week high as oil, the country’s chief export earner, climbed a third day
and power stocks led gains.
The Micex Index (INDEXCF) gained 1.3 percent to 1,313.21 by the close in Moscow, the highest level
since May 29 after earlier sliding as much as 0.6 percent. The benchmark gauge tumbled 11 percent
last month, the most since September. OAO Gazprom Neft, the oil arm of Russia’s biggest company
by value, added 2 percent. Power utilities OAO MRSK Holding and Federal Grid Co. added more
than 8.4 percent and OAO Mobile TeleSystems rose 4.1 percent.
Oil rose as much as 2.4 percent in New York as crude inventory shrank. European Central Bank
President Mario Draghi said officials stand ready to act as the euro region’s growth outlook worsens.
The European Central Bank held its main refinancing rate at 1 percent.
The “oil price rebound is supporting both stocks and the ruble, giving an additional boost to banks,”
Alex Kantarovich, head of research at JPMorgan Chase & Co., said by e-mail.
OAO Sberbank, the country’s largest lender, advanced for a second day, adding 3.2 percent to 80.64
rubles. VTB Bank rose 1.9 percent to 5.3 kopeks, the highest level since May 30. Russia’s second biggest lender climbed for a third day after Chief Executive Officer Andrei Kostin said the central bank
will step up efforts to halt a slide in the ruble and as the currency advanced.
Russia received almost 50 percent of budget revenue from oil and gas sales last year. The Micex will
be open for trading June 9 and closed June 11-12 for public holidays.
The Micex-RTS began trading futures on benchmark equity i...
View Full Document
- Spring '14