Putin doesn’t commit

October 20, 2006

As expected, Russian President Vladimir Putin has not committed his country legally binding agreement.

While Russia has been a fairly open market, its energy sector has been centralized with Putin’s presidency. The country has reaped enormous economic rewards, has had its economy grow and has been able to pay off its debts at faster paces than anyone could have predicted. President Putin wants to stick to the winning formula. With a quarter of energy exports in Europe being Russian, it will be hard to persuade the president to change course. It simply is in the country’s interests to maintain the current order.

Or perhaps Putin is preparing for his post-Presidential career; there has been speculation that Putin may head Gazprom upon the completion of his term.

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