One thing Russian oligarchs have learned over the last few years: don't give any back talk to Prime Minister Vladimir Putin. Mikhail Prokhorov has had to relearn that lesson. Putin threatened last week to slap fines on several top tycoons, including Prokhorov, for underinvestment in power assets acquired during the break-up of the Soviet Union. Prokhorov, traveling with Russia's president in France, responded initially by saying Putin was "misinformed" and that there was documentation to show that. Putin was not pleased and on Wednesday the two met at the Prime Minister's office in Moscow. Afterwards, a humbled Prokhorov "admitted his guilt and pledged to clean up his act," as Reuters reported. "The prime minister had the full picture. We had indeed delayed the construction of several plants for technical reasons," Prokhorov told a news conference. The oligarch also agreed to invest more in his hybrid car program. Kremlinology comes to the Nets.
- Humbled power tycoon accepts Putin's criticism - Gleb Bryanski - Reuters
- War of words: Russian PM vs. Russian tycoon (with Video) - Tom Barton - Russia Today
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Prokhorov unveils hybrid car production - Daniel Bushell - Russia Today