The political risks of investing in Russia have been highlighted recently by BP’s power struggle with its Russian partners in its TNK-BP joint venture. But some specialists say the risks are over-stated. see video

“There are some sectors where the state might want to take more control, and you need to assess that as an investor,” says Karine Hirn, chief executive and co-founder of East Capital, a Stockholm-based firm with a 10-year track record of investing in Russia. “But the perceived risk of investing in Russia is higher than the real risk.”