As store shelves go bare, Kremlin whitewashes credit crisis

Moscow – Nothing could be a more visual throwback to the scarcity of Soviet days then the yawning bare shelves at some of Moscow’s small grocery chains this week. Kremlin critics have even voiced hope that such – so far limited – signs of economic crisis could turn the populace against former president-turned-premier Vladimir Putin.

“It’s the crisis,” affirmed a sales girl at grocer Samokhval behind a glowing refrigerated counter empty of all but frozen veggies. “They haven’t stopped paying me yet, but it’s all over the papers – the victims of the crisis.”


…The Kremlin has ordered media to avoid using the words “crisis” and “collapse” in reference to Russian stock hits.

“They advised ‘falling’ be replaced with the more neutral term ‘decreasing’” said Vladimir Varfolomeyev, deputy editor at radio Ekho Moskvye.

It’s been a different story in the print press. State-run newspaper Izvestia told Russians to hide three months worth of cash under their mattresses.

Popular daily Tvoi Den on Friday published a list of self- preservation tips: Don’t change your place of work, first hires are often first fires; don’t buy real estate, prices may still fall; buy gold.

Russian President Dmitry Medvedev has couched the crisis as an illness exported by the West – one that Russia is better prepared to ride out than other countries thanks to Russia’s massive sovereign wealth fund, which has been filled by years of rising oil prices.

But with a recent drop in oil prices, energy firms Rosneft and Lukoil are among rich companies lining up for government credits. Moscow’s bourses have lost 70 per cent of their value from peaks in May.

DPA