Monday, February 18, 2019

Foreign Investors Won’t Finance Moscow Roads, Forcing Russian Capital to Delay Key Projects

Paul Goble

            Staunton, February 17 – Moscow, which has some of the worst traffic jams in the world, desperately needs new roads; but plans announced in 2014 to open several key sectors have been repeatedly postponed because Russian government plans called for foreign investors to finance up to a third of their cost and such investors have not come forward. 

            The failure of foreigners and especially Middle Eastern ones that the Russian authorities have actively pursued has forced Moscow to turn to Russian firms, many of which are at the brink of bankruptcy and promise more government assistance. As a result, Rimma Polak of Vestnik Civitas says, the costs of these problems have shot up (

            Now, in the wake of the arrest of Micahel Kalvi of Baring Vostok, she suggests, foreigners will be even less willing to participate in such projects; and the Russian government will have to postpone their completion dates still further. Indeed, these delays are end with cancellations, something that will give Russians another reason to be angry at their government.

            Once again, Russia’s two greatest misfortunes in the minds of many, its roads and its fools, have converged and done so in a way that can’t be hidden from Russians living in the capital – and also in ways that the powers that be can’t easily blame on someone else. 

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