Putin Promotion of Ivanov Marks New Push to Break Oil `Needle'

[bemildred]

Feb. 16 (Bloomberg) -- Sergei Ivanov's promotion to the post of Russian first deputy prime minister, responsible for breaking the nation's reliance on oil and gas, marks a turning point for the economy, analysts said.

President Vladimir Putin promoted Ivanov, a fellow former KGB agent, yesterday, relieving him of his previous duties as defense minister.

``Russia is entering an active phase of industrial policy this year and Ivanov's role is to drive this policy, to help diversify the economy away from oil dependency,'' said Yaroslav Lissovolik, an economist at Deutsche Bank AG's Moscow brokerage.

Russia, the world's largest energy producer, will invest billions of dollars in manufacturing and other non-energy industries. Putin this month urged the richest businessmen to help wean the economy, expanding for a ninth year, off the ``natural resources needle'' by developing ``high-tech, high- value products.''

Bloomberg

[Amonester]

1. Hummmm... Something tells me...

The PNAC crackpots ain't gonna like that at all.

Their objective is to dominate the world, and Pooty-poot wants to dominate his own country's oil & tech resources.

I clearly see the final clash is-a-comin' ...