10
Feb
09

How Putin saved Russia’s oligarchs’ *****

Once almighty and arrogant, Russian oligarchs have all learnt a bit of humility these past months.

Despite their visible  wealth, their huge industrial empires, mostly built on natural ressources, were not ready to face the economic global crisis.

Strangled by gigantic debts, Russian oligarchs were more thhan any other investors in the world massively struck by the liquidity shortage and were unable to refinance their debts.

Earlier this winter, most of their glorious holdings (which were considered in Russia as the milestones of new Russian prosperity) have come very close to a full collapse.

Once almighty and even scared by senior government officials, the most prominent Russian businessmen had no other choice than to come and beg for some cash to Vladimir Putin.

Britain Rich Russians' RefugeEveryone in Moscow has heard about these night time stories at the Kremlin were guys like Roman Abramovich, Oleg Deripaska or Vladimir Potanin were queuing for hours waiting for a few minutes meeting with Putin or Igor Sechin.

Putin has built these men and he had the opportunity to crushed them the same way he crushed Khodorkovsky. Why did he decide to finally save their ***** and pay for such an expensive bailout plan?

The most obvious reason is that Putin, as Obama in the US, did not want to see a negative domino effect throughout Russian economy (keep in mind that all started when the US government decided not to support Lehmann Brothers!!!).

That makes a lot of sense and was probably a vital move for the sake of Russian economy.

But I also believe that Putin saved a little more than the half dozen billionaires he once created. Abramovich’s, Deripaska’s or Potanin’s empires are part of Putin’s great ambition of hidden nationalisation of Russia’s natural ressources.

And he is not about to give up Russia’s natural ressources as he perfectly sees that the 21st century’s strugles will be about nothing else but it!!!

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