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ANALYSIS
Capital flight from Russia continues unabated...over $300 billion in just 4 years.
Returning to office in May...President Putin promised market friendly reforms.
He has failed to deliver...and stock trading volume is down 30%.
Despite Russia's rich energy resources...foreign investors are avoiding risks by investing in Moscow companies.
Observers say the recent takeover of TNK-BP t for $55 billion by state-controlled Rosneft is proof of matters going the wrong way.
An analyst flatly says: 'Russia remains unloved.'
Another investor observes: 'Trading has died down. Because the Russian government has made considerable efforts to demonstrate that it doesn't need a stock market and doesn't really need portfolio investors.'
