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This all amounts to the first serious test of "Putinomics" - the domestic policies put in place by Prime Minister Vladimir Putin during the two terms of his presidency from 2000 to 2008, and continued by his successor, President Dmitri Medvedev. While oil money was pouring into the state's coffers, the Kremlin was able to dispense largesse to ordinary Russians through generous social spending programs and hefty pay raises awarded by the monolithic state companies that dominate the economy. Jobs were plentiful, and over the past five years, average wages have risen by 25% annually. Even then there was money...

Author: /time Magazine | Title: Russia's Big Chill | 12/11/2008 | See Source »

...question has been put to an early test: The day after Obama's election, Russian President Dmitri Medvedev publicly threatened to deploy missiles near the borders of two NATO allies to counter the Bush Administration's plans to install antimissile systems in Poland and the Czech Republic. The Russian announcement, rolled out during an elaborate ceremony, was timed to put one of the most contentious issues between Moscow and Washington on Obama's table right away. Obama and his advisers took it as an intentional provocation aimed at testing the President-elect...

Author: /time Magazine | Title: Obama's First Diplomatic Test | 11/13/2008 | See Source »

...maiden address to the Russian Parliament, President Dmitri Medvedev blamed the United States for Moscow's war with Georgia and for the world financial crisis. Washington, Medvedev said, was threatening Russia's security with the creation of a missile defense system and new NATO military bases around Russia's western and southern flanks. "We have gotten the clear impression that they are testing our strength," Medvedev said in his speech, which was made on the day U.S. voters elected Barack Obama president, and which at times recalled Soviet era rhetoric. (See pictures of the world reacting to Obama...

Author: /time Magazine | Title: Moscow's Challenge to Obama | 11/6/2008 | See Source »

...judicial system doesn't have a record of delivering justice. This month, for example, marks the 14th anniversary of the murder of Dmitri Kholodov, an investigative journalist killed in his office by a booby-trapped attaché case while he was investigating corruption in the Russian army. The long trial of his alleged murderers ended in their acquittal; a colonel charged with the murder won compensation for his forced retirement and pretrial confinement. Kholodov's friends and colleagues complain of a gross miscarriage of justice, but nothing has been done. The murder is officially unsolved; the crime is going unpunished...

Author: /time Magazine | Title: Murder, Russian-Style: Political Assassination | 10/19/2008 | See Source »

That is why the Arctic looks so enticing. Energy experts say the Arctic's continental shelf may contain up to a quarter of the world's undiscovered oil and natural gas. "The use of these energy reserves is a safeguard for Russia's energy security," Russian President Dmitri Medvedev said. "It is our duty to our descendants. We have to ensure the long-term national interests of Russia in the Arctic." Thus, the $5.4 billion - under terms more favorable than Moscow has extended to recapitalize one of its own major banks - seems a modest price to pay. Even if ordinary...

Author: /time Magazine | Title: Why Russia Is Bailing Out Iceland | 10/13/2008 | See Source »

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