Eastern Europe

Former Russian Finance Chief Declares Detention Of American Investor An ‘Emergency’ For Russian Economy

Alexei Kudrin

Image by duma.gov.ru
Алексей Кудрин в Государственной думе 22 мая 2018 года

Former Russian finance minister Alexei Kudrin, now head of the Audit Chamber, has declared this week the arrest of a well-known and highly successful American investor as an ’emergency’ for the Russian economy.

“I find this particular situation (to be) an emergency for the economy,” Kudrin tweeted. He said Michael Calvey’s detention shows Russian President Vladimir Putin’s order not to jail people accused of economic crimes was being ignored, reported The Moscow Times.

Kudrin is famous for providing Russian President Vladimir Putin liberal economic advice that has been ignored in the last decade after he resigned his position in 2011. However, increased social and infrastructure spending in recent years is said to be of Kudrin’s urging.

Kudrin is obviously afraid the detention of Calvey, who invested early in the now massive Russian internet company Yandex, will hurt foreign capital coming into the Russian Federation.

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