Ikea Tries to Build Public Case Against Russian Corruption

14 Sep 2009
The New York Times

Ikea, one of the "most outspoken Western corporate critics of Russian corruption" has brought grievances to Russia's civil court system - but lost two recent rulings. Ikea is claiming it has lost $196 million in two years as a result of fraud stemming from the company's electricity contract - and was given an additional fine of €5 million after judges reprimanded the Swedish company for breaking its contract with the fraudsters.

The New York Times describes Russia as a "maddeningly opaque but potentially lucrative market of 140 million people, whose incomes are supported by trickle-down oil wealth."