🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

INTERVIEW-Russia sees no wide-scale unrest from crisis

Published 06/23/2009, 09:31 AM
Updated 06/23/2009, 09:40 AM

MOSCOW, June 23 (Reuters) - Russia on Tuesday dismissed concerns that the economic crisis could provoke any widespread domestic unrest and said companies and local officials were working to prevent tensions rising over unemployment.

"We do not expect any wide-scale social protests," First Deputy Prime Minister Igor Shuvalov told Reuters financial television in an interview. "In several places people have expressed their discontent."

Russia is entering the worst recession in at least a decade and unemployment has soared to 7.5 million in the wake of the global financial crisis.

Though public expressions of discontent are still rare, workers in some regional towns have protested against unemployment and the idling of factories.

Prime Minister Vladimir Putin this month reprimanded one of Russia's most powerful oligarchs for failing workers in one crisis-hit town in the forests of northern Russia.

Putin's visit to Pikalyovo in the Leningrad region came after workers in the town blocked a motorway and called on the authorities to intervene.

"If you look at the situations where there have been such cases, as a rule they are the result of silliness," said Shuvalov.

Problems resulted "from the inability to resolve situations in time, where management are unable to agree with shareholders or with nearby enterprises, as was the case in the Leningrad Region," he said.

Russia's leaders say they will do everything to ensure the stability which Putin prided himself on achieving while Kremlin chief between 2000 and 2008. (Additional reporting by Dmitry Zhdannikov, Anastasia Onegina, Alexei Kalmykov, Darya Korsunskaya and Melissa Akin, editing by Mark Trevelyan)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.