Experts assessed the prospects for Kudrin to leave the corridors of power for big business

Will the retired head of the Accounts Chamber succeed in the IT industry?

Leaving the Accounts Chamber, Alexei Kudrin intends, in his words, to focus on “large projects of private initiatives that have a significant effect on people.” But the question arises: how far will the digital business empire Yandex, where this highly experienced official, who has given 25 years of his life to the public sector, go, come to court?

Yandex shareholders will complete the process of reorganizing the company, control over the Russian part of the business will go to top management, and Kudrin himself will receive a share in it, the media reported the other day. Rumors about his departure from the Accounts Chamber arose back in June, after a meeting with President Vladimir Putin, to whom, according to insiders, he told about a number of negative consequences for Russia of a special operation in Ukraine. The background of the current personnel move is not known for certain, but it is easy to assume that today working for the state has completely lost all practical meaning for Kudrin. But why did he decide to move to Yandex, and how will this powerful, but clearly flawed digital project, which still retains its international status, be useful?

Nikita Maslennikov, Leading Expert of the Center for Political Technologies:

“First of all, I would like to wish Kudrin success in his new field. It is a pity that he is parting ways with the Accounts Chamber, which he raised to an unprecedented height, made it a truly control body. Now he will have to deal with the problems not so much of Yandex (this is just the tip of the iceberg), but rather the task related to the so-called technological and information sovereignty of Russia. A lot of nonsense is being done here, for example, the upcoming bill on recommender algorithms for social networks, search engines, marketplaces, online cinemas and other Internet services. This is a kind of modern analogue of the scandalous “anti-terrorist” Yarovaya law of 2016. Apparently, this topic is more important for the president at the moment than the fate of the Accounts Chamber, where Kudrin has fully established the work, and then any professional manager with political weight will cope with it. The same Vice-Speaker of the State Duma Alexander Zhukov, who is being “wooted” for the vacant seat.

In addition, Kudrin has his own projects, for example, the Faculty of Liberal Arts and Sciences of St. Petersburg University. Or – the Committee of Civic Initiatives, which was largely sponsored by business. He probably wants to revive them, but on a new technological platform. In general, we are talking about bringing the global digital industry closer to ordinary people. This is a systemic problem, the problem of trust in the state of the population, which asks a natural question: “Why these incomprehensible IT games of yours if there is no money for housing and communal services?” Here, Kudrin has a completely new agenda and the opportunity to use all the experience accumulated over his professional career. He knows how to negotiate with business, and he knows how the “wind rose” develops in the corridors of power. Plus, this is one of the few representatives of the Russian establishment who is not toxic to the West. In a new place, his background related to financial management will also come in handy. After all, the division of assets is a rather painful operation. The basic structure of Yandex is registered in the Netherlands, and this is fraught with risks – for the stock markets, for the company’s capitalization.

Mikhail Belyaev, financial analyst, candidate of economic sciences:

“In the Accounts Chamber, Alexei Kudrin was clearly in his place, as a state manager. He coped with the duties of a leader with a bang. But the fact is that this is the last systemic liberal in the highest echelons of Russian power, an iconic figure who has remained there since ancient times. What happened to Kudrin fits into the general political paradigm associated with the “cleansing” of the monetarist wing of government officials. So Yandex for Kudrin is a kind of consolation prize, an honorable reference. Of course, this person with great connections in various areas of business and government, with vast experience in civil service, with unsurpassed organizational and leadership skills, will be useful to the largest IT company in Russia. He will be in his place there too and, having figured out the financial intricacies, will build everything in the best possible way. But, I repeat, the main motive for his transition to Yandex is political.”