The row between the Kremlin and the Central Bank of Russia
(CBR), brewing since last summer, has finally boiled over.
After six months of wrangling with the central bank, the
government foisted a restructuring concept on it in December.
Relations have since broken down completely just when it looked as
if the plan might actually be implemented.
The first item on a long list of things to do was the transfer of
Russia's second largest bank Vneshtorgbank (VTB) - 99% owned by the
CBR - to the state and the selling off of 20% to the EBRD in the
process.
Fed up with the obstinate and inefficient CBR, the Kremlin has
been taking more...
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