Putin Strikes Out at Steel Company
In a public outburst that sparked concern among investors and analysts, Russian Prime Minister Vladimir Putin on Tuesday lashed out at Evraz Group, one of the world’s largest steel producers. Speaking at a meeting with students in Moscow, Putin accused the company of maintaining high prices even as raw material costs dropped, the Kommersant newspaper reported on March 4th. The premier also had some harsh words for Alexander Abramov, the owner of Evraz group.
“At present, costs for everything have fallen,” Putin candidly said at the meeting, “but we don’t see a decrease in prices. After all, salaries could be increased: since expenses are lower in the cost structure.”
Putin then turned to face Abramov, who was seated nearby.
“I know how Alexander Grigoriyev Abramov works with suppliers and customers,” Putin said.
“Imagine that I’m sitting under the table as you’re conducting pricing negotiations! After all, you’re not conducting yourself by the rules of the market! People come from you with a direct order: ...