MOSCOW — Russian companies could suffer as a result of being transparent in the current business climate, President of the Interros holding Vladimir Potanin has told a press conference organized by the Association of Managers. According to Potanin, the most transparent companies are the most vulnerable to negative impacts of the existing environment in Russia. He pointed out the problems faced by Russian companies when they merge with, or acquire other firms. As for problems of corporate governance in Russia, Potanin said that there are significant violations taking place, such as violation of the rights of minorities, non-transparency and unpredictability of dividend policies. He called for the improvement of quality of corporate procedures implemented by Russian businesses, and pointed out the trend for dividing functions and responsibility of a company's shareholders and managers, as well as making the board of directors a more important body. According to Potanin, the Russian economy should be the most open one for foreign investments.