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Friday March 25, 09:59
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Putin tries to put oligarchs at ease
(by Brigitta Zulfitzler)
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President Vladimir V. Putin said at Thursday’s meeting with Russia’s wealthiest businessmen that he approved a change in the law that would break off investigations into the privatizations of the 1990’s. He proposed instead to reduce the statute of limitations on privatisation deals in oil, metals, cars and utilities from 10 years to three. These President’s steps are targeted at improvement of economic state, specially the investment breakdown, and his own international image.
The Putin administration’ failure in the social sphere and the setback in the Ukrainian "Orange Revolution" added trouble to Russia’s difficult position on the international level.
Economic and investment growth have been slowing, also because of the Yukos case. Capital flight tripled last year to $7.9bn, as businesses felt uneasy about keeping money in Russia.
"This will help the business community look to the future with greater certainty, draw up promising development plans and make new investments, and I hope reassure entrepreneurs on the security of property rights," Mr. Putin added, in remarks published by the Kremlin.
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