Inquiry threatens to slow Russian investment

FUTURE investment in Russia's resources sector is being threatened by a proposed inquiry into government asset sales over the past decade.

Staff Reporter

The Russian government inquiry is targeting illegally acquired wealth by some of the country's richest tycoons, particularly in the oil sector.

However, analysts say the investigation will slow all forms to investment, including the metals and mining area, where the inquiry will look at the privatisation of Norilsk Nickel.

Russia's main financial auditor, the Russian Audit Chamber, announced on December 30 it would look at all privatisations over the past 10 years and evaluate taxes paid and other matters.