The Russian Duma approved its much anticipated amnesty for entrepreneurs, seeking to halt the legal onslaught against the Russian business community. But the amnesty comes with considerable strings attached and does not address any of the fundamental legal and institutional deficiencies that created the problem in the first place, writes William Pomeranz.
The Russian Duma approved its much anticipated amnesty for entrepreneurs on July 2, seeking to halt the legal onslaught against the Russian business community. More than 100,000 Russian businesspeople are now either in prison or have been subject to criminal proceedings, according to Boris Titov, Russia’s official ombudsman for the defense of the rights of entrepreneurs. He maintains that the majority are innocent. Releasing them — and improving Russia’s overall business climate — remains critical as the Russian economy continues stumbling along with low growth and falling revenues.
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