Natalia Zubarevich. Photo: RFE/RL

07 December 2018, 11:40

Kadyrov's attacks on "Vnesheconombank" remind feudal law

The statement of the head of the region about his intention not to repay the credit to the bank is unprecedented and resembles a feudal state, in which not the obligations, but the status, decided everything, the experts interviewed by the "Caucasian Knot" believe.

The "Caucasian Knot" has reported that on December 3, in the territory of the Hi-Tech Park "Kazbek" in Chiri-Yurt, the solemn opening ceremony of the first of four factories for manufacture of building materials took place. At the ceremony, Ramzan Kadyrov reproached the "Vnesheconombank" for the refusal to finance the project, promising not to return the money and finish the construction on its own, if the "bankers don't change their mind."

Natalia Zubarevich, Professor at the Department of Geography of Moscow State University, told the "Caucasian Knot" that never before a head of the subject of the Russian Federation voiced out the intention not to repay a credit to a bank.

"There was no such precedent; of course, Kadyrov enjoys special treatment. Let them measure their muscles and find out who is tougher: Chechen head Ramzan Kadyrov or Igor Shuvalov, the Chairman of the 'Vnesheconombank'," said Ms Zubarevich.

Sergey Zhavoronkov, an economist and an expert at the Gaidar Institute of Economic Policy, also could not recall a similar case, when the head of a subject openly declared his intention not to return money to the bank. He noted that Kadyrov's intention not to repay the loan resembles a feudal state.

"This is already a feature of a feudal state, where it didn't matter who owes whom, but one's social status was important. If yours is higher, you may not return the debt," Mr Zhavoronkov has stressed.

This article was originally published on the Russian page of 24/7 Internet agency ‘Caucasian Knot’ on December 7, 2018 at 05:24 am MSK. To access the full text of the article, click here.

Author: Gor Aleksanyan; Source: CK correspondent

All news

February 20, 2019 23:44

February 20, 2019 23:40

February 20, 2019 23:36

February 20, 2019 23:33

February 20, 2019 23:30

News archive