Putin began to create a new type of oligarchs in Russia — Reuters
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Putin began to create a new type of oligarchs in Russia — Reuters

Source:  Reuters

Western journalists came to the conclusion that the Russian Federation's war against Ukraine led to the emergence of a new type of rich people in the aggressor country. In general, this process is controlled by the dictator Vladimir Putin.

Points of attention

  • The oligarchs of the new generation work in the consumer goods and services sectors, which distinguishes them from former businessmen.
  • Russian billionaires lose the opportunity to influence the country's politics and do not have the right to vote, because everything depends on Putin.
  • It is known that the new type of oligarchs in Russia cannot expand their ambitions due to tight control from the Kremlin.

Putin wants tame and submissive oligarchs

It is important to understand that the illegitimate president of the Russian Federation immediately after coming to power started a non-public war with the oligarchs of the 1990s.

After that, he appointed a new generation of tycoons — most often chosen from among his old colleagues from the Russian special services.

However, journalists and analysts are now documenting the emergence of a third wave of would-be oligarchs: tycoons chosen by Putin to own and manage assets confiscated from Western companies.

They may be more business-savvy, but they will be just as subordinate to the Russian leader as their predecessors, Reuters emphasizes.

A new type of rich people in Russia. What is he

According to journalists, one of the key differences between the new breed of oligarchs and the billionaires of the 1990s and 2000s is that they work in the consumer goods, services and retail sectors.

It is worth paying attention to the fact that the sectors of mineral resources and energy, which are under the strict control of the dictator, have long been distributed among the elders.

But the main distinguishing feature of the new generation is that they operate in a radically new context. While the former business elite depended on the domestic economy, which participated in world trade and was immersed in the global financial system, now Russia is cut off from foreign loans, the report says.

In addition, it is emphasized that newly minted billionaires do not influence the policy of the aggressor country in any way and de facto do not have the right to vote.

Their ambitions will have no way out due to the clear awareness that everything Putin gave, he can take away.

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