What is an oligarch? The circle of businessmen who made their wealth after the fall of the Soviet Union
2 years, 11 months ago

What is an oligarch? The circle of businessmen who made their wealth after the fall of the Soviet Union

ABC  

Soon after Mikhail Khodorkovsky's private jet landed at a Siberian airport in 2003, a convoy of dark vans arrived on the tarmac. The elevation of Putin's inner circle With the Soviet-era oligarchs either gone or under Putin's arrangement, the Russian leader soon turned his attention to creating a new generation. "So the oligarchs kind of maintain perhaps a lot of the hidden wealth of Russia, and in some cases use that wealth to support the Kremlin's foreign policy goals," Mayne said. Nowadays oligarchs tend to fall into three types, analysts say: They are either Putin's friends, leaders of Russia's security services — the police and the military — or they are outsiders who have no personal ties to the Russian President. "Putin can tap into widespread popular opposition against Russia's rich elite if it suits his interests," she writes.

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History of this topic

What Americans can learn from the story of Russia's oligarchs
1 month, 3 weeks ago

What Americans can learn from the story of Russia's oligarchs

NPR  

What Americans can learn from the story of Russia's oligarchs toggle caption Julia Demaree Nikhinson/AP Pool We had a talk on Morning Edition about oligarchy. Sponsor Message Oligarchy means rule by the few, and the word "oligarchs" entered Russia's popular discourse beginning in the 1990s. He described a Russian oligarchy that developed in stages: Russia's oligarchs became wealthy thanks to …

Making American oligarchy great again
2 months, 2 weeks ago

Making American oligarchy great again

Salon  

When President-elect Trump held a press availability after speaking to Republican governors last week he rattled off several big names who'd made the pilgrimage to Mar-a-Lago to kiss the ring of the new Don. This is the new American oligarchy — extremely wealthy men cozying up to the new president, a convicted criminal and adjudicated sexual abuser, a man who …

'The first oligarch': Russian dissident warns of 'extremely dangerous' development in U.S.
3 months, 4 weeks ago

'The first oligarch': Russian dissident warns of 'extremely dangerous' development in U.S.

Raw Story  

America is close to having its first real oligarch, a Russian dissident — and former world chess champion — warned in an interview Sunday. Garry Kasparov, who now chairs the Renew Democracy Initiative, claimed to the Huffington Post that Elon Musk’s emergence at Trump’s side mixes business and politics in the same way as was seen in Russia after the …

'Gloomy' Russian oligarchs think country is in trouble even with Trump win
4 months, 2 weeks ago

'Gloomy' Russian oligarchs think country is in trouble even with Trump win

Raw Story  

The Russian government has long held that Donald Trump is to their benefit, as it went so far as to interfere on his behalf in the 2016 election, and then enjoyed years of relative friendliness as Vladimir Putin and Trump were together on the world stage. According to Bloomberg News, the Russian billionaires colloquially known as "oligarchs" do not expect …

Under Putin, the uber-wealthy Russians known as ‘oligarchs’ are still rich but far less powerful
1 year, 3 months ago

Under Putin, the uber-wealthy Russians known as ‘oligarchs’ are still rich but far less powerful

Associated Press  

TALLINN, Estonia — When Vladimir Putin came to power in 2000, the outside world viewed those Russians known as “oligarchs” as men who whose vast wealth, ruthlessly amassed, made them almost shadow rulers. THE ORIGINAL OLIGARCHS After the collapse of the Soviet Union, astute businessmen who had already begun building operations as government controls loosened under Mikhail Gorbachev’s “perestroika” reform …

Under Putin, the uber-wealthy Russians known as 'oligarchs' are still rich but far less powerful
1 year, 3 months ago

Under Putin, the uber-wealthy Russians known as 'oligarchs' are still rich but far less powerful

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy When Vladimir Putin came to …

US turns to new ways to punish Russian oligarchs for the war
2 years ago

US turns to new ways to punish Russian oligarchs for the war

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. From the Treasury Department to the Justice Department, U.S. …

'Economic crisis awaiting.. Russia may run out of money by next year', claims outspoken Oligarch Deripaska
2 years ago

'Economic crisis awaiting.. Russia may run out of money by next year', claims outspoken Oligarch Deripaska

India TV News  

Awaiting crisis: Amid the unprecedented crisis that erupted following the escalation of the brutal war against Ukraine, a Russian oligarch made a big claim wherein he asserted that Moscow would run out of money by 2024. According to outspoken Russian oligarch Oleg Deripaska, the country would plunge into further economic crisis, if it does not attract foreign investments. "There will …

Russian oligarchs close to President Putin still swerving sanctions
2 years, 1 month ago

Russian oligarchs close to President Putin still swerving sanctions

Firstpost  

London: Oligarchs reportedly close to Russian President Vladimir Putin who have had bank accounts frozen or property seized after Moscow’s invasion of Ukraine are pushing back against the Western sanctions – or finding ways around them. Russian banker Petr Aven, who insists he has “no financial or political relationship” with the Kremlin, is asking the UK government to unlock £60,000 …

West mulls having Russian oligarchs buy way out of sanctions
2 years, 10 months ago

West mulls having Russian oligarchs buy way out of sanctions

Associated Press  

BERLIN — Western allies are considering whether to allow Russian oligarchs to buy their way out of sanctions and using the money to rebuild Ukraine, according to government officials familiar with the matter. The official said it’s also in the West’s interests to have prominent oligarchs dissociate themselves from Russian President Vladimir Putin while at the same time providing funding …

Kremlin critic Browder urges squeeze on oligarchs’ enablers
2 years, 10 months ago

Kremlin critic Browder urges squeeze on oligarchs’ enablers

Associated Press  

DAVOS, Switzerland — Kremlin critic Bill Browder wants governments to step up efforts to get to the riches squirreled away by Russian oligarchs and linked to President Vladimir Putin by forcing the accountants, lawyers and others who set up murky legal and financial structures to become whistleblowers. Browder, author of the nonfiction best-seller “Freezing Order: “A True Story of Money …

Kremlin critic Browder urges forced oligarch whistleblowers
2 years, 10 months ago

Kremlin critic Browder urges forced oligarch whistleblowers

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Browder, author of the nonfiction best-seller “Freezing Order: …

Exiled oligarch calls on Russian tycoons to declare Putin ‘war criminal’ over Ukraine
2 years, 11 months ago

Exiled oligarch calls on Russian tycoons to declare Putin ‘war criminal’ over Ukraine

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery Anatoly Chubais is the highest-ranking …

Is seizing the yachts & mansions of Russian oligarchs enough? No.
3 years ago

Is seizing the yachts & mansions of Russian oligarchs enough? No.

Al Jazeera  

New York, United States–Over the past week at least half a dozen oligarch mega yachts have been seized or disabled in European ports, offshore havens like Isle of Mann have begun delisting private aircraft and McMansions in London have been occupied by activists – scenes straight out of a Hollywood script. After years of nurturing financial systems that assigned assets …

Why so many Russian billionaires are called oligarchs
3 years ago

Why so many Russian billionaires are called oligarchs

NPR  

Why so many Russian billionaires are called oligarchs Enlarge this image toggle caption Lluis Gene/AFP via Getty Images Lluis Gene/AFP via Getty Images Many of the sanctions the United States and the European Union have imposed on Russia are meant to target some of the country's wealthiest individuals who have ties to Russian President Vladimir Putin. Sponsor Message "I say …

Russian oligarchs may have trouble avoiding seizure of their multi-million dollar yachts: report
3 years ago

Russian oligarchs may have trouble avoiding seizure of their multi-million dollar yachts: report

Raw Story  

According to a report from Business Insider, Russian oligarchs seeking to avoid having their multi-million dollar yachts seized may have trouble finding a safe port to stash them due to Vladimir Putin's unprovoked invasion of Ukraine. As the report notes, there are complications in stripping the wealthy Russians of one of the favorite playtoys, but as the U.S lawmakers contemplate …

Sanction shockwaves: Russian oligarchs and elites scramble to move, sell assets to get ahead of international penalties
3 years ago

Sanction shockwaves: Russian oligarchs and elites scramble to move, sell assets to get ahead of international penalties

CNN  

Washington CNN — Two hours after emailing a real estate newsletter of luxury homes to thousands of ultra-wealthy clients Friday morning, Shawn Elliott, president of the ultra luxury division at Nest Seekers International, said he received three inquiries. “Maybe that’s the beginning of the scramble.” The impact of coordinated sanctions from the US, United Kingdom and European Union has sent …

US launches 'KleptoCapture' task force to crack down on Russia's elite. So what is an oligarch?
3 years ago

US launches 'KleptoCapture' task force to crack down on Russia's elite. So what is an oligarch?

ABC  

The United States has launched a corruption task force to further strain the finances of Russia's oligarchs to pressure the country to cease its invasion of Ukraine, the US Justice Department has announced. The task force's name comes from the word "kleptocracy," defined as corrupt individuals who misuse their powers to accumulate wealth at the expense of those they govern. …

Some Russian oligarchs speak out, cautiously, against war
3 years ago

Some Russian oligarchs speak out, cautiously, against war

Associated Press  

There have been social media messages calling for peace, an image of a murdered Russian opposition figure, a newspaper editorial demanding President Vladimir Putin “stop this war.” As Russian forces pound Ukraine’s cities, the sentiments might not be surprising. “It’s very cautious steps, but nevertheless you can see they are already thinking of the future and trying to save whatever …

Oligarchs Mikhail Fridman and Oleg Deripaska call for an end to Putin’s war
3 years, 1 month ago

Oligarchs Mikhail Fridman and Oleg Deripaska call for an end to Putin’s war

CNN  

London CNN Business — Russian billionaires Mikhail Fridman and Oleg Deripaska have broken ranks with the Kremlin and called for an end to Russia’s war in Ukraine. “I really want clarifications and intelligible comments on the economic policy for the next three months,” Deripaska said, adding that the central bank’s decision to dramatically hike interest rates and force companies to …

Truss draws up ‘hit list’ of oligarchs to face sanctions over Ukraine
3 years, 1 month ago

Truss draws up ‘hit list’ of oligarchs to face sanctions over Ukraine

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Foreign Office is preparing a “hit list” of Russian …

U.S. sanctions on Russian oligarchs miss richest of rich
3 years, 1 month ago

U.S. sanctions on Russian oligarchs miss richest of rich

The Hindu  

The term Russian oligarch conjures images of posh London mansions, gold-plated Bentleys and sleek superyachts in the Mediterranean, their decks draped with partiers dripping in jewels. Mr. Biden said Thursday the new U.S. sanctions would nonetheless cripple Russia’s financial system and stymie its economic growth by targeting Russia’s biggest banks, which the Treasury Department said holds nearly 80% of all …

US sanctions on Russian oligarchs miss richest of rich
3 years, 1 month ago

US sanctions on Russian oligarchs miss richest of rich

Associated Press  

WASHINGTON — The term Russian oligarch conjures images of posh London mansions, gold-plated Bentleys and sleek superyachts in the Mediterranean, their decks draped with partiers dripping in jewels. Daniel Fried, a former U.S. official under both Democratic and Republican administrations who helped craft U.S. sanctions against Moscow in the wake of Putin’s 2014 invasion of the Crimean Peninsula, said he …

The U.S. sanctions on Russian oligarchs miss the richest of the rich
3 years, 1 month ago

The U.S. sanctions on Russian oligarchs miss the richest of the rich

NPR  

The U.S. sanctions on Russian oligarchs miss the richest of the rich Enlarge this image toggle caption Sergei Karpukhin/AP Sergei Karpukhin/AP WASHINGTON — The term Russian oligarch conjures images of posh London mansions, gold-plated Bentleys and sleek superyachts in the Mediterranean, their decks draped with partiers dripping in jewels. Planet Money Putin's big bet: Sanction-proofing Russia Putin's big bet: Sanction-proofing …

Russian billionaires see wealth tumble as tensions escalate
3 years, 1 month ago

Russian billionaires see wealth tumble as tensions escalate

Al Jazeera  

As Ukraine conflict intensifies, the fortunes of Russia’s super-rich have shrunk amid sanctions and sinking stock markets. The fortunes of Russia’s super-rich have tumbled $32 billion this year, with the escalating conflict in Ukraine poised to make that wealth destruction much larger. U.S. President Joe Biden on Tuesday unleashed sanctions targeting Russia’s sale of sovereign debt abroad and the country’s …

Robert Reich: What does oligarchy mean?
5 years, 9 months ago

Robert Reich: What does oligarchy mean?

Salon  

“Oligarchy” means government of and by a few at the top, who exercise power for their own benefit. It comes from the Greek word oligarkhes, meaning “few to rule or command.” Even a system that calls itself a democracy can become an oligarchy if power becomes concentrated in the hands of a few very wealthy people — a corporate and …

Full ‘Putin list’ of Russian oligarchs and politicians
7 years, 2 months ago

Full ‘Putin list’ of Russian oligarchs and politicians

CNN  

CNN — It’s been dubbed the “Putin list” – the names of 210 prominent Russians, many with close ties to the Kremlin, released by the US Treasury Department. Yuriy Trutnev: Deputy Prime Minister, Plenipotentiary Representative to the Far Eastern Federal District 39. Sergey Prikhodko: Deputy Prime Minister and Head of the Government Apparatus 47. Sergey Ivanov : Chief Executive Officer, …

'Putin list' a Who's Who of Russian political, business elite
7 years, 2 months ago

'Putin list' a Who's Who of Russian political, business elite

CNN  

Moscow The US Treasury Department late Monday released a list of Russians with close ties to the Kremlin, a measure required under a law called the Countering America's Adversaries Through Sanctions Act. But the report reads like a Who's Who of the top echelons of Russian politics and business: It includes top-ranking government officials and 96 oligarchs with a net …

How Putin became a problem for Russian oligarchs
7 years, 3 months ago

How Putin became a problem for Russian oligarchs

Al Jazeera  

On December 21, Russian President Vladimir Putin met with Russian oligarchs at the Kremlin. by In other words, approximately half of Russia’s biggest oligarchs are having troubles abroad; the other half might start having them in February 2018, when the US expands its sanctions list. Reuters recently reported that, before the February 2018 announcement of new sanctions, some of Russia’s …

In Search of Putin’s Russia: Arising from the Rouble
9 years, 4 months ago

In Search of Putin’s Russia: Arising from the Rouble

Al Jazeera  

We explore the contradictions and subtleties of how Russia’s unique economic structure impacts everyday life. Many Russians are struggling to make ends meet, due to sanctions in the wake of the Crimea crisis and the Ukraine conflict, unstable oil prices, and a fluctuating currency. Is it Putin’s imperial ambitions, or the Western response to them, the Kremlin’s economic policies, the …

Putin inner circle said to be gridlocked as tycoon’s arrest sparks feud
10 years, 5 months ago

Putin inner circle said to be gridlocked as tycoon’s arrest sparks feud

Live Mint  

Moscow: Russia’s wheels of power are grinding to a halt. “The long-running conflict between rival pro-Putin camps has elevated to war,” said Stanislav Belkovsky, a Kremlin adviser during Putin’s first term who heads Moscow’s Institute for National Strategy. “The elite are fighting for a shrinking pool of assets.” ‘Absolutely wrong’ The president’s spokesman, Dmitry Peskov, said the disputes among officials …

Russian billionaires in trouble
16 years, 4 months ago

Russian billionaires in trouble

The Hindu  

FOR the handful of Moscow pensioners gathered beside Karl Marxs statue on October 19, there was, at last, something to be cheerful about: Russias Communists are these days a marginal and increasingly doddering force, but what the Soviet Union was unable to achieve in 70 years the overthrow of global capitalism is now happening, including in Russia. Earlier in October, …

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