- June 15, 2021
- Posted by: Stratford Team
- Category: Business
Russian business should be prepared to provide financial backing to state spending efforts after Vladimir Putin warned the Kremlin was looking at how companies are using record profits at a time of crisis, the country’s richest man has said.
Alexei Mordashov, the billionaire owner of steelmaker Severstal, said the company would “definitely” take up the president’s recent call for businesses to reinvest their windfalls rather than reward investors.
“It’s important to acknowledge that Mr Putin is our president and the leader of our nation, and he reflects pretty much what every average Russian has in mind,” Mordashov told the Financial Times.
“There is certain public [demand], which is not reflected in hard structures or legislation but there is a certain request . . . There is demand for social justice and inclusion,” he added. “And I believe big business should pay attention to it.”
In a national address to…
