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Birth of a two-party system

Overview

The latest round of regional elections in Russia went unnoticed (largely because they coincided with the murder of the anti-government journalist, Anna Politkovskaya). But they deserve notice, as the results point to a possible sea change in the country’s political system which would reduce underlying country risk.

This is a move to a classic two party system, with the formation of a new centre-left party to compete with the present ruling party, United Russia, positioned on the...

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