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...realm of energy," Putin told his Security Council last December. For the Kremlin, energy security equals Russian national security, and it won't shy away from making oil and gas significant tools of its foreign policy. The clearest sign came last winter, when the state-controlled gas behemoth Gazprom shut off supplies to Ukraine for several days, in what the Russians described as a price dispute but Ukraine and many others took to be a crude political move to punish Kiev for embracing Western institutions such as nato. More recently, Russian government officials have talked tough with West European leaders...

Author: /time Magazine | Title: Crude Power | 7/2/2006 | See Source »

...whose address was a café in the city of Tver, it has become the nation's third largest oil company, producing 1.5 million bbl. per day. While president Bogdanchikov is an oil-industry expert, the chairman of the board is Igor Sechin, Putin's deputy chief of staff. Gazprom, the state company that controls almost 90% of Russian gas production, is similarly tied in to the Kremlin. Its chair of the board is Dmitri Medvedev, the First Deputy Prime Minister, who is widely seen as a possible Putin heir. After its brush with Ukraine, Gazprom is now pushing hard...

Author: /time Magazine | Title: Crude Power | 7/2/2006 | See Source »

...Palestinian Authority, even when the Palestinians miserably failed to condemn the suicide attack in Israel during Passover. This approach (also favored, alas, by Iran) actively undermines the Western funding freeze designed to force Hamas to reject violence and recognize Israel. At the same time, the Kremlin-managed energy monopoly, Gazprom, attempts to assert power in a classic, ham-fisted Russian manner—just remember the gas sales to Ukraine last New Year.Although it ultimately failed, the growing ties with the energy-hungry Chinese dragon should make Europeans ever more worried about their dependence on Russian gas. With decreasing levels...

Author: By Pierpaolo Barbieri, | Title: Pride and Prejudice at the Kremlin | 5/5/2006 | See Source »

...party is down to 28%, from 39% six months ago (Merkel's cdu stands at 38%). The spd is also suffering fallout from the tarnished image of former Chancellor Gerhard Schröder, who took a €250,000 job with a subsidiary of the Russian giant Gazprom shortly after leaving office, raising questions about his judgement; and because its ministers have been associated with unpopular government pronouncements. Wolfgang Thierse, a veteran spd deputy and vice president of the Bundestag, says his party recognizes that "the fat years are over and things won't improve without a big sacrifice...

Author: /time Magazine | Title: Land of Smiles | 4/1/2006 | See Source »

...Wimbledonized" for years (London has a great tennis tournament, but no Briton ever wins it) and where, says Robert Wade of the London School of Economics, there is "an unusually deeply held belief in the merits of free trade and free investment," there are limits. When Russian gas behemoth Gazprom started stalking the British supplier Centrica, officials let it be known that "any new ownership would face robust scrutiny." Put all those straws in the wind and you've got a flying haystack. "We're at a point here," says Kenneth Courtis, vice chairman of Goldman Sachs Asia, "where...

Author: /time Magazine | Title: A Backlash Against Globalization? | 3/20/2006 | See Source »

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