What is an Oligopsony?

Russia's "oligarch" refers to the big capitalists who made a fortune overnight during the privatization process in the 1990s. One day in March 1996, Yeltsin secretly summoned seven financial oligarchs. They were Berezovsky, President of United Bank, Gushinski, President of Bridge Bank, Vinogradov, President of International Commercial Bank, and President of Capital Savings Bank Smolenski, Friedman, President of Alpha Bank, Khodorkovsky, President of Menat Jeep Bank, and Malkin, President of Credit & Commercial Bank of Russia. The two sides reached an agreement: Bankers provided financial support to ensure Yeltsin's re-election; Yeltsin promised to safeguard the economic interests of the oligarchy. Since then, a new political vocabulary has emerged in Russia: "seven oligarchs."

Seven oligarchs

The relationship between those in power and oligarchs is one of the main reasons for Russia's changing political situation.
With the richest man in Russia
Gusinski
Seven oligarchs
Old oligarchs fall down, new oligarchs emerge
Judging from the different experiences of the "seven oligarchs," Putin is fulfilling his promise made to voters during the election campaign: eliminating oligarchs. Yeltsin had left politics for more than three years, and most of the glorious oligarchs were out of luck.
However, Russia's oligarchs have not been weakened by the fall of several people, the old oligarchs have been consolidated, and new oligarchs have emerged. Abramovich, who ranked second on the Russian rich list, is the representative of the new oligarch. In July 2003, Abramovich invested 59.3 million pounds to buy a 50.9% stake in the Premier League football club Chelsea, which became the focus of world media reports. He started from operating the oil industry with total assets of US $ 3 billion. He is the Chief Executive of the Chukchi Autonomous Region and is a current figure in Russia's political and business circles. And Yeltsin's granddaughter, 34-year-old Djelpask, has become a king of the Russian aluminum industry at a young age, with total assets of more than 1.1 billion US dollars. They are all eager to try and climb to the peak of power.
Russia will hold a Duma election and a presidential election. On the eve of the election, various interest groups in Russia have begun a new polarization. Putin's arrest of Khodorkovsky at this time was actually to knock the mountain down, so that the upstarts should not forget the lesson learned from the "seven oligarchs."

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