Russian business is heavily relies on foreign investments, especially from the United Kingdom. Yes, the resources themselves are tapped within the territory of Russia, but all international communications and transactions are performed outside of Russia. The entire profit goes back to UK banks like HSBC or Royal Bank of Scotland where the UK Oil and Gas companies opened their accounts. Such business relations necessitate the Russian to English translation for communication and international transactions.
I was a witness of some dialog between Englishman, British Petroleum rep, and Russian manager working for international oil transportation companybased in Kazakhstan.The Brit asked Russian manager: “Why can’t you develop your country and make it comfortable and advantageous for your citizens? You have so much potential in the country!” The Kazakh’s response was rather fair: “Yes, you are right – our country is rich in oil and gas and many other natural resources! However, both legal and financial transactions are executed beyond Kazakhstan, and mostly they are executed in your country – Great Britain! All companies that manage the production of crude oil at Caspian shelf are registered in UK, not in Kazakhstan. All funds are stored in UK banks, not in Kazakh banks. So, literally, the entire wealth of Kazakhstan is in the hands of those who own Banks and Companies in UK. That’s how business is managed in the world. And naturally, it makes the Russian to English translation is ever more demanded.
To make business safe and void of unnecessary taxation the Russian Federation has allocated some tax-free zones where foreign companies may register their affiliate or branch (or child company) company and make use of the benefits of such “services”. There are a number of such zones – Kalinigradskaya oblast, Sakhalin island, and few other zones. Likewise, Russian companies register their entities outside of Russia for the same purpose, to be free from taxation burden. For example, major part of shares of GAZPROM (Russian Gas production tycoon) belong to the company registered at Bermuda islands, which automatically makes the property and wealth of Gazprom, and actually Russia, belong to the UK dependent colony.Considering the above the need in Russian to English translation is natural and is a must in such global business relations.
