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#9 - JRL 9095 - JRL Home
US EXPERT ON PRIVATIZATION AMNESTY

WASHINGTON, March 18, (RIA Novosti, Arkady Orlov) - Well-known US economist and professor Marshall Goldman believes that Russian authorities could implement a privatization amnesty.

Goldman said this in a RIA Novosti interview, before flying over to Moscow where his book "The Piratization of Russia" will be presented next week.

Among other things, a privatization amnesty can eliminate all kinds of violations that were registered during the initial Russian privatization drive, professor Goldman, who serves as deputy director at the Davis Center for Russian and Eurasian Studies (Harvard University), noted.

According to Goldman, privatization amnesty is a process when authorities reassess the value of property that had previously been privatized in violation of the law. Moreover, they can suggest that new owners reimburse the state for the gap between understated and new prices (that are calculated in line with all laws and regulations at the time of privatization).

Considering the fact that privatized facilities have become much more expensive over the last few years, an overwhelming majority of their owners will not have any trouble paying the afore-said price gap, professor Goldman believes.

In his opinion, this scenario is an intermediate option between compulsory nationalization and the retaining of property that had been privatized in violation of the law.

This intermediate option does not require all-out changes, professor Goldman went on to say.

Professor Goldman analyzed the present-day Russian situation, noting that Yukos will not be the only major company to face post factum privatization and tax charges on the part of federal authorities.

Professor Goldman's controversial book analyzes the appearance of oligarchs during the implementation of Russia's privatization program. The author criticizes some aspects of US and other Western expert assistance during this process.