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August 5, 2008
Undermining Medvedev
Comment by Vladimir Frolov
Special to Russia Profile
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On July 24, Prime Minister Vladimir Putin publicly lambasted OAO Mechel and its CEO Igor Zuzin for alleged price fixing, thus halving the company’s share price and sending the Russian stock market into a ditch. Putin’s comments not only shattered foreign investors’ confidence in the Russian market, so meticulously fostered by President Dmitry Medvedev, but also demonstrated that the prime minister still has the upper hand, thus aggravating the relationship between the mentor and the protégée.

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