How Russians Can Tap Their Energy Wealth with Market Reforms

Publication Date: October 1993

Publisher: Heritage Foundation (Washington, D.C.)

Author(s): John R. Guardiano

Research Area: Energy

Keywords: Russia and Eurasia

Type: Report

Coverage: Russia (Federation)

Abstract:

If Russia’s energy sector were privatized, the amounts of foreign investment coming into Russia could easily dwarf any amount of Western foreign aid. Such investment will never materialize, however, until the Russian government removes the bureaucratic obstacles to entrepreneurship in the Russian energy sector and pushes ahead with privatization of its state energy complex. The benefits of doing so will accrue not only to the Russian energy sector, but to the entire Russian economy and indeed, to all the people of Russia.