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Russia Values Oil More Than War Moscow obviously did not want to cause any additional anxiety among European consumers. Nor did it want to deal Tbilisi any unnecessary trump cards for its blame game. From what is possible to deduce from scarce information provided by official sources, Russia's restraint in targeting Georgia's highly vulnerable energy infrastructure was confirmed... Kazakhstan considers to divert oil export route from BTC to Russia A high level Kazakh official told Turkish business daily Referans that question marks now hang over the security of the BTC pipeline. "We could reconsider our decisions on sending Kazak oil to the world market. Changing the (export) route is in our agenda now," the official was quoted as saying by Referans. Russia and Iran: crisis of the west, rise of the rest But it is in more than the military sphere that the image of a resurgent and powerful Russia is less grounded in reality than its projectors often allow. Russia's economic performance is crucially (and dysfunctionally in the longer run) dependent on its energy resources, and there is a critical need for heavy investment in the oil-and-gas sector if current revenues are even to be maintained. The country also has great social problems (which are felt inside the military and have the potential to damage its standards and performance): among them a declining and aging population, rampant alcoholism, and low male life-expectancy for men (see Rebecca Kay, "'Being a man' in contemporary Russia", 7 March 2008). These factors must be part of an overall judgment of the true face of Russian power today; and taken together they suggest that Russia has far less capacity to undertake a unilateral drive to restore its great-power status than it might appear. Gazprom Falls as Analysts `Shocked' by Spending Plan William Mauldin and Greg Walters, Bloomberg OAO Gazprom, the world's biggest natural-gas producer, fell in Moscow trading after analysts said they were ``shocked'' by the company's plans to raise its investment budget to more than $40 billion this year. ... Russia's natural-gas exporter may raise its investment budget for 2008 by about 25 percent, Interfax reported yesterday, citing Deputy Chief Executive Officer Valery Golubev. Gazprom last month already increased the budget for 2008 by 16 percent to a record 822 billion rubles ($33.8 billion). (22 August 2008)