Russian-American relations have never
been fluid. The Cold War, political differences, space
exploration, nuclear research and the arms race have all
contributed to a general animosity between the two nations. As
a dual Russian American citizen, I have lived and worked in
both countries. Due to my business experiences in Russia
and the United States, I am inspired to further examine the
political and economic effects of Russia’s continual rise to
power and the struggle for the United States to maintain its
status as the sole hegemon.
In the USSR, economic terms
such as cost of production, return on
investment, market capitalization had very faint and illusive
meanings, as the national economy was run by a handful of
partycrats with no business backgrounds. In stark contrast to
its Soviet past, modern Russia is unconcerned with political
ideologies and financial interests rule political debate. “In
capital we trust” is the current motto of Russian politicians
and their big business allies. “Russia Inc.” continues to
flourish thanks to top Kremlin officials, sitting on boards of
newly nationalized highly profitable industries. Turning off
Ukrainian and European gas supplies, choosing partners for
capital intensive joint ventures, walking away from executed
contracts with multinational corporations, claiming billions of
tons of hydrocarbons beneath the ice of the Arctic Ocean are
all examples of politics determined by strictly business
Clearly, soaring energy
are far more important in Moscow
than the nuclear warhead power play. Russian businesses are
interested in gaining access to the U.S. market. As Gazprom,
Rosatom, Russian Aluminium, Lukoil, and Rosneft become
increasingly interested in expanding their presence in the
United States, energy deals could give the U.S.-Russian
relationship context and stability. However, the Jackson-Vanik
Amendment has been an effective trade barrier since 1974.
Ironically, the original purpose of the amendment is no longer
relevant, yet repealing the legislation is still not considered
a priority in Congress.
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Delays with Russia’s acceptance in the
WTO, pressing issues surrounding NATO membership for Ukraine,
Georgia, and Azerbaijan, Russian nuclear supplies to Iran,
deployment of the U.S. nuclear warheads in Europe, opposing
interests in Venezuela all perpetuate the enmity and hostility
which could ultimately lead to the new Cold War. Though
Russian-American business interaction has been stagnant in the
past decade, perhaps, the allowance of trade and capital flow
between both countries would allow businesses to establish more
solid foundations for political relations and disperse
misconceptions and stereotypes of each nation’s economic
As capitalism in Russia evolves, it
becomes the role of the U.S. government to dismantle Soviet
barriers and let private business do its job in preventing
twenty-first century style Cold War.
Index of other key
- Russia Key Facts
Russia Key Facts: Economy, Oil and gas, Military and Health issues
- Russian Economic Survey
The Russian Economic Survey is a comprehensive review of the Russian economy - month by month
- U.S.-Russian Relationships
The U.S.-Russia Economic Relationships in brief: investments, services, trade, opportunities and Jackson-Vanik
- U.S.-Russian Trade
U.S. exports to Russia, U.S. imports from Russia, trade balance and other stats
- U.S.-Russia Trade Opportunities
Bilateral trade between the U.S. and Russian Federation, market growth and business opportunities in Russia
- Russia's Virtual Economy
In-depth analysis of the virtual economy in Russia through the 1990s. Soviet nonmonetary exchange, nonmarket prices and the financial crisis of August 1998.