Russian Oligarchs

Oligarchy is government by and for the benefit of the few.
In Russia oligarchs are mostly individuals who became wealthy by buying state assets for knock down prices. These assets include oil, gas, minerals and state industries. They could only receive these assets through the collaboration of senior politicians.
For example Roman Abramovich came from a modest background. In 1995 became partner in the state oil company Sibneft.
When his partner, Boris Berezovsky, ran foul Vladimir Putin in 2000, he became sole owner. In 2005 he sold the company for $ 13.1 bn. He subsequently became famous for buying out Chelsea football club in London. He bought property across the globe, travelling by yacht and private jet..
Following the Russian invasion of Ukraine, the British Government demanded that Abramovich sell his ownership of Chelsea. He subsequently moved to Israel.
This story illustrates a number of things. One is how a man of modest means could become incredibly wealthy in a short time.
Total value of wealth held abroad is reported to be about $ 1 trillion.
It also shows that the wealth is dependent on aligning oneself with the government of Vladimir Putin. Berezhovsky was chased to London along with other oligarchs. His wealth was confiscated. He was ultimately found dead in suspicous circumstances.
Finally following the Russian invasion of Ukraine, oligarchs were the global face of Russian power. Global governments applied sanctions to the Russian economy with mixed results. But the global assets of oligarchs could be seized much more easily.
So apart from Chelsea being sold, mansions, yachts and private planes were seized. Bank accounts were frozen.
This has tested the loyalty of oligarchs. On the one hand their wealth was entirely down to being in Putin's favour. The fruits of the wealth were being taken away from them.
Russian oligarchs are notable in the west for their suspicious deaths where they seem to have tragic "accidents” like being knocked down by a car that drove onto the footpath they were walking on or falling out of the window in a defenestration manner or even being shot among other grisly ends that would sometimes be reported as them having taken their own lives. These became common in 2022 in the run up to the Invasion of Ukraine and amid the ensuing war. One notable death was the former head of the Moscow Aviation Institute who was reported to have "died after falling down several sets of stairs".


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