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Since 2014, hundreds of Russian oligarchs and their companies have been hit with US sanctions for their support of "the Russian government's malign activity around the globe". [5] [6] In 2022, many Russian oligarchs and their close family members were targeted and sanctioned by countries around the world as a rebuke of Russia's war in Ukraine.
The Russian government believed that the open sale of state-owned assets, as opposed to the voucher program, would have likely resulted in the further concentration of ownership among the Russian mafia and the nomenklatura, which they sought to avoid. Nevertheless, contrary to the government's expectations, insiders managed to acquire control ...
These oligarchs gained control of significant portions of the economy, especially in the energy, metals, and natural resources sectors. [15] Many of these individuals maintained close ties with government officials, particularly the president , leading some to characterize modern Russia as an oligarchy intertwined with the state.
Not all Russian billionaires are oligarchs — for the elite class known as "Putin's inner circle," wealth is historically intertwined with politics. What is a Russian oligarch and why are they ...
Biden singled out wealthy oligarchs in his State of the Union address, promising to “seize your yachts, your luxury apartments, your private jets.” Meet Russia’s oligarchs, a group of men ...
The U.S. and its allies are going after the assets of Russia’s billionaires. Will sanctioning them hurt Putin?
Upon the Soviet Union's collapse, the new Russian government was forced to manage the huge state enterprise sector inherited from the Soviet economy.Privatization was carried out by the State Committee for State Property Management of the Russian Federation under Anatoly Chubais with the primary goal being to transform the formerly state-owned enterprises into profit-seeking businesses, which ...
Attorney General Pam Bondi disbanded a Biden-era initiative targeting Russian oligarchs as well as another designed to combat foreign influence. Task Force KleptoCapture was created in the wake of ...