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Dawn breaks over town at minus 32 celsius. "Raduzhny," the name of the town, means "Rainbow."

After the Russian oil industry was opened to foreign investment, an American firm named White Nights entered into a joint venture with the local Russian oil company. White Nights invested well over $100 million, but the partnership never worked. The Americans ultimately abandoned their investment, beaten down by a combination of corruption, constantly changing laws, and outright thievery by the local government.

These pictures were taken just as the Americans were beginning their investment.