You're reading: Reuters: Russian oil privatization saga points to limits of Putin’s power

Russia's decision to postpone the privatization of a mid-sized oil company has sent a message to investors: for all his power, President Vladimir Putin has failed to stop political infighting getting in the way of business.

Foreigners have long been wary of buying assets in Russia because of concerns that the state has little respect for ownership rights, but the tussle between competing clans over control of Bashneft has been particularly fierce.

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