Extortion by corrupt officials in Russia has got so bad that some Western multinationals are considering pulling out altogether, the head of a U.S. anti-bribery group said in an interview. Alexandra Wrage, whose non-profit organization TRACE International advises firms on how to avoid bribery, told Reuters the “rampant endemic” corruption in Russia was much worse than in other big emerging economies.
“My recommendation is: ‘Maybe you should reconsider doing business in Russia,'” she said. “I am considerably more optimistic about Nigeria than I am about Russia on this issue.”
Berlin-based NGO Transparency International rates Russia joint 146th out of 180 nations in its Corruption Perception Index, saying bribe-taking is worth about $300 billion a year.
TRACE has studied other leading emerging economies.
In China, it describes corruption as an “inverted pyramid,” with most bribery at the top while India is the opposite, with corruption rampant at lower levels but tapering off higher up.
Loading...