Russia to bar foreign firms from assets

[lovuian]

http://feeds.bignewsnetwork.com/?sid=7caa2579702e724c

Big News Network.com Saturday 12th February, 2005 (UPI)

Russia plans to bar foreign-owned companies from bidding for its most lucrative natural resources, it was reported Friday.

The Ministry for Natural Resources said companies would have to be at least 51 percent Russian-owned to take part in this year's tenders for strategic oil and metals deposits.

The Financial Times termed the announcement the most explicit and sweeping manifestation of a nationalistic state policy developed under Presidency Vladimir Putin.

The ban is seen as part of an increasing trend by Russia to reassert control over strategic areas of its economy and keep foreigners out of the most lucrative assets, including oil fields and gold and copper mines that have drawn interest from British, Chinese and American companies.

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Obviously Russia is not going to let any country get a piece of the action ...this is strictly Putin in charge here!!!

[Kimber Scott]

1. And this is how it should be. Countries are foolish who sell their

natural resources to foreigners.

[The Backlash Cometh]

2. I guess they recognize what's happening to America.

Ask yourself how much property is owned by Saudi Arabia and Kuwait; or how many corporations are actually multi-national. Then you begin to realize why weird things are happening in this country, like changes that would allow foreign born to be president of the U.S.

[Massacure]

3. It is to be expected. Russia is too poor to get robbed by foreigners.

[EC]

4. This may be the only way we will stop outsourcing...

If other countries decide the same way, we will have no place to outsource...(of course that won't happen)but I think maybe Europe and China may head this way eventually...

[solinvictus]

5. It's because foreigners have tried to rob Russia blind.

Putin's stopping the trend.

[pacifictiger]

6. Sounds like an

"up yours" to Halliburton and other global corporate vultures that want to rape the world.

[applegrove]

7. Go Russia! Go Russia ! Go Russia!

There nobody's fool. They can see the writing on the wall. With China & India & Russia & Brazil doing all the growth - there will be a free for all for resources and Russia will get very rich.

Smart of them to ban the USA 'big corporations' from dominating the market. Russian knows that in 30 years they will have a big enough economy to dominate. So good for them!!!

I hope other countries take notice!!!

[HereSince1628]

8. The old economic wisdom has been build local, national economy first

Russia seems to get that.

In the age on international corporate robber-barons that advice may still be good (to prevent your country becoming a corporate colony).

Maybe the rest of the world will wake up to another old concept, protecting local and national economies is a national strategic interest.

Curiously, all those right-wing literalists skip right over the section of the constitution that gives the government the power to impose tariffs.

[applegrove]

9. Because tariffs can be given directly to the corporations - by passing Gov

Because tariffs can be given directly to the corporations - by passing Government. That is actually happening more and more.

If they gave tariffs to the government (like they used to) then how are they going to bankrupt it fast enough to reform taxes & SS.

The same tool Reagan used against the soviets. Bankrupt the Government and you own them. Only the target this time isn't aggressive Sovietkitstand. The target is the American Middle Class.