While the body count of prominent critics of Leader-for-Life Vladimir Putin rose again last week, the re-nationalization of Russia’s space industry continued to gather steam with a financial move that shows the benefits of being a friend of the Russian president.
The move involved FundServisBank, which was placed in administration (bankruptcy) under the Deposit Insurance Agency. The move was portrayed as an urgent response to a banking crisis caused by western sanctions over Russia’s aggression in Ukraine and the fall in value of the ruble.
Or was it?
“From a purely economic point of view the bank has no problems … you start to wonder who is behind this,” spokesman Grigory Belkin told The Moscow Times.
A couple of stories in The Moscow Times provide some insight into the re-nationalization of Russia’s space industry. One story claims the changes will create a giant black hole that will suck in billions of rubles while producing little of value. The other spotlights the firing of a prominent space analyst who dared oppose the changes.