Industrial Property in Russia: The Return of the State and a Focus on Oil

Abstract

For most of two decades, Russia's political economy has been characterized by an intense struggle for property that has passed through numerous phases. The most recent phase, which began with the government takeover of prime oil assets from the Yukos company in 2003-04, has seen the central state reassert itself as the dominant player in the competition and demonstrate its intention to expand its control of the petroleum sector for both economic and foreign-policy reasons. Nevertheless, the federal government is far from the only competitor for assets in today's Russia. An analysis of the actors, motives, and resources at play points to multiple cracks in the current system that may serve as fault lines in a new round of destructive competition after Putin leaves office.