Money for Oil
German Banks in Russian Oil Production
Deutsche Fassung
Abstract
In Russia, almost $20 billion must be invested over the next 10 years in the production, processing and transport of oil. A significant part of the necessary capital must be obtained from international capital markets. German banks have already taken on a leading role in allocating consortium credit. In the process, environmental and social standards have thus far hardly played a role in informing the banks’ decisions – even though the oil industry is among the greatest polluters of Russia’s environment.
(Osteuropa 1/2007, pp. 15–34)