Welcome back to the podcast, Bribes, Swindle, or Steel.

I'm Alexandra Rogge, and today we're talking about both the corruption and sanctions

challenges associated with doing business in Russia.

My guest today is Thad McBride.

Thad is a partner with Baspare and Sims, where he advises companies on issues arising out

of international business operations, including export regulations and the FCPA.

Thank you for joining me, Thad.

My pleasure.

Thanks for having me.

When I am asked about whether the commercial world is getting more or less corrupt,

I generally note that things are improving almost everywhere,

with one notable exception, and that's Russia, because organized crime is so tightly linked to the

government there, avoiding bribery seems to be not just difficult, but dangerous. One of the

reasons I wanted to talk to you on this podcast

is because I think you're more optimistic than I am. I am and I'm not. I'm not in the sense

that I don't foresee the business environment really changing in Russia that dramatically,

given the close interaction between the government and the oligarchs and the criminal syndicates

that seem to kind of work hand in hand together to make the Russian economy flow.

So I don't foresee any real change in the way business in Russia is actually done.

I feel like many U.S. companies have over the last two or three years acclimatized

themselves to how to do business in Russia and the things you can do and the things you can't do.

And many have decided it's not worth it because of the corruption risks you identified because of the sanctions risk, just because of the questions about the rule of law.

...