Does Vladimir Putin not worry about the chilling effect that arrests like Michael Calvey’s will have on Western investment in Russia? Apparently not, say analysts, for Western sanctions have so reduced the flow of foreign capital that the Calvey case will hardly matter. And as one Russian journalist observed this week: “When it comes to economic policy, when it comes to any kind of conflict… the president always chooses the special services.” Putin makes this choice for a reason—namely, that he depends on the FSB to remain in power.
