Russia's invasion of Ukraine has led to sanctions against the country's wealthiest businessmen.
According to Forbes, the European Union drew up a sanctions list against Russian billionaires, including Alexei Mordashov, who is the richest person in Russia. Insider's Kate Duffy reported that Roman Abramovich has been under a lot of scrutiny.
The daughter of Putin's spokesman has been sanctioned by the US.
When the Russian economy recovered and the stock market went up, most of Russia's key businessmen made their billions, according to a professor at the University of California, Los Angeles.
The original oligarchs from the early 1990s are a relatively small minority. There are many who emerged after the financial crisis.
silovarchs are a new business elite that has sprung up in the space left by the departing oligarchs. This is an umbrella term that combines two words. The latter refers to people of force, and includes leading officials from the security services and law enforcement.
The title of oligarch was first given to businessmen who emerged from privatization in Russia in the 1990s.
It was not true, but the image stuck. He said that they accumulated initial capital through speculation and other forms of arbitrage in the first hyperinflationary years of the post-communist collapse and used that capital to buy stakes in the state enterprises that were being sold off.
Russia's most notable business figures are dependent on the Kremlin to keep making money. Western countries are not in a position to put pressure on Putin despite imposing sanctions.
The natural home of a silovarch is also notable. In some states, veterans of the security services or armed forces dominate both politics and businesses.
In the mid-2000s, close associates of Putin began to get rich from state contracts. He said that they used powers of law enforcement to intimate private businessmen and expropriate their companies.
South Korea and Indonesia have had silovarchs. They can deploy intelligence networks, state prosecutors, and armed forces to intimidate or expropriate business rivals.
In the 1990s, some thought that the influence of the oligarchs over Boris Yeltsin, the first president of the Russian Federation, was strong.
The image they cultivated was greatly exaggerated. Since the mid-2000s, those who survived were deferential to the Kremlin and performed jobs for Putin when asked.
Many of them had close ties to and influence over law enforcement and security service officials lower down in the hierarchy, but they were not allowed to play a political role without the permission of the Kremlin.
There are questions as to whether silovarchs will continue to have power in the future. silovarchies often face severe succession crises, according to a 2006 research paper. As the inner circle of silovarchs enrich themselves, they become hostages of their politicized enforcement apparatus, which rivals might use to expropriate them if they step down, according to the paper.
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