Bloomberg Businessweek

The Trouble Brewing In Putin’s Heartland

With oil prices down, discontent over the economy is growing
Ulyanovsk has been in decline since Soviet times.

During Russia’s oil-fueled boom, Rashid Tamayev saw steady pay raises at his auto factory job, helping keep his family in relative comfort—and making him a loyal supporter of President Vladimir Putin. But since a plunge in oil prices three years ago, Tamayev has lost faith in the president. Last spring he and dozens of others at the Ulyanovsk Automobile Plant lodged an appeal with the Kremlin when they were fired after pointing out safety problems. They got no answer. “Putin has forgotten about ordinary people,” Tamayev says as

You're reading a preview, sign up to read more.

More from Bloomberg Businessweek

Bloomberg Businessweek5 min readPolitics
Putin’s Post-Crimea High Is Wearing Off
With oil prices falling—and taking living standards with them—the people are finding ways to express their discontent
Bloomberg Businessweek3 min read
Any Way You Slice It
Unless you’re developing a fertilizer, you probably don’t expect to disrupt the golf industry from the spare room of a sewage company. But that’s where Dean Snell found himself four years ago, holed up in an office with a single computer. “In the mor
Bloomberg Businessweek10 min readPolitics
Gaza Needs Cement to Rebuild Israel Dominates The Market
Mohamad al-Assar was asleep when his factory was bombed. On a steamy night in August 2014, he was awakened not by the explosion but by a phone call from the security guard at the plant. The concrete-mixing factory, 2 miles north of his home and adjac