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Moscow financial centre: keys to success. By Lord Skidelsky


Nov 17, 2009
Reaction score
Russia, Moscow
Political Leaning
There are a lot of areas of cooperation between Russian and British business. One should not

underestimate the amount of British capital that is already invested into Russia. British capital

is present in most sectors: from oil and gas and real estate to manufacturing to high-tech.

Currently, Russian government is advancing the plan of turning Moscow into a global financial

centre. Russia has oil and gas, metals, agricultural products and so on. It should easily be able

to build a world class financial centre on top of this. Why is Russian oil, for example, traded

more on foreign exchanges than in Moscow? If there are right platforms and right instruments to

leverage Russia's strengths, then there are no reasons why Moscow should not be a major financial

centre. It is probably naive to think that Moscow can become a financial centre based on

"innovation". I think it has a lot more chances to succeed if it focuses on sectors where Russia

has natural advantages.

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