This book sheds new light on the political economy of Russia under Putin’s rule. The author, a former EU diplomat, presents a historical review of the Russian economy and 60 years of state-communist mismanagement, followed by oligarchic privatization. The book offers profound insights into Putin’s rule and the power mechanics of the state-dominated management of the Russian economy. It identifies and assesses the lack of rule of law, together with an arbitrary and often corrupt administration that systematically discourages entrepreneurship and the emergence of an independent middle class. Furthermore, the book discusses Russia’s budgetary policy, its dependence on the export of natural resources, state-owned enterprises and their privileges, and Russia’s external trade.

This hard-hitting, substantial analysis debunks the myth of Russia’s economic might and is a must read for anyone seeking to understand the economic realities of the Eurasian continent, or considering doingbusiness with Russia.

Albrecht Rothacher is a book author, EU diplomat and an expert on Eastern European and East Asian economics and politics.​After military service he studied social sciences in Berlin, Konstanz, at Yale and in Bridgeport (M.A.), with doctoral work at the EUI in Firenze, in Tokyo and at the LSE (Ph.D.(Econ)). From 1984 to 2020 he worked as a senior official at the European Commission, mostly in trade and diplomatic functions, posted to Vienna, Tokyo, Singapore and Paris. He dealt with Russia mostly in the OSCE context and in headquarters when in charge of coordinating economic analysis and trade negotiations.