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Home > News > Russian Auditors Enforce Strict Control over Nanotech Budget

August 17th, 2010

Russian Auditors Enforce Strict Control over Nanotech Budget

One of the knocks people had when the Russian government announced its nanotechnology initiative was that it would be rife with corruption. And sometimes it seems it has fulfilled that promise.

But it also appears as though the Russian government is really bearing down hard to combat any abuses. Science magazine's Science Insider is reporting that the Russian Federation Accounts Chamber, a body which audits the federal budget, believes that a disbanded government agency for R&D misspent US$16 million in 2008-2009 on nanotechnology projects.

It's great that Russia appears committed to running a tight ship when it comes to their nanotechnology initiative. However, one has to wonder what's the point of an initiative that purports to be developing nanotechnology in Russia and just goes out and buys companies abroad. It would seem the economic benefit will spread only to a small number of financiers, but then again that is the way of things nowadays.


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