What is Putin’s Endgame With Americans Detained in Russia?

Mikhail Svetlov/GettyOne of the first challenges Joe Biden will face as president is how to deal with Vladimir Putin, leader of the country that Biden has labelled the biggest threat to the United States. In contrast to the impetuous and inconsistent Donald Trump, Putin is generally seen as a resolute leader, who unflaggingly pursues his country’s foreign policy goals, however malign. But the cases of three Americans who are currently detained in Russia belie this image of Putin, portraying instead a leader who is dysfunctionally beholden to the interests of his security services and the corrupt clans who form his power base.The case of American investor Michael Calvey, which should be decided by a Moscow court within the next few weeks, offers a particularly striking example of how Putin has allowed a corrupted legal and financial system to undermine Russia’s broader interests. Calvey, arrested along with five others in February 2019 on bogus fraud charges, founded the highly successful private equity firm Baring Vostok, which since 1994 has brought over $3.7 billion of capital into Russia. A fluent Russian-speaker with a Russian wife, Calvey always played by the rules, never criticizing Putin, and was highly respected in the Russian business community. As Leonid Bershidsky of Bloomberg News noted after the arrests: “Calvey became a legend in the Russian market, in part because of his reputed aversion to any kind of foul play and focus on industries and companies unlikely to attract the attention of Russia’s authorities.” Russian billionaire Leonid Boguslavsky said in an interview last week that Calvey had been his inspiration and teacher when he, Boguslavsky, was advancing his investment career in the 1990s.Read more at The Daily Beast.
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