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• Political Connections: Close ties to the Kremlin and other powerful figures in the Russian government. This can manifest as personal friendships, business partnerships with state-owned entities, or support for government policies.
• Influence: The ability to influence government decisions, regulations, and economic policies to benefit their business interests. This influence might be less direct than in the 1990s but still significant.
• Beneficiaries of Privatization or State Contracts: Many amassed their initial fortunes through often controversial privatization deals in the post-Soviet era or through lucrative state contracts under Putin’s leadership.

Identifying Important Contemporary Russian Oligarchs:

It’s challenging to create a definitive and universally agreed-upon list, as influence can be opaque and the landscape is constantly shifting, especially with international sanctions. However, based on publicly available information, including Forbes’ lists of Russian billionaires and reports on their connections, some of the most prominent figures often cited as contemporary Russian oligarchs include:

• Vagit Alekperov: A major shareholder and former president of Lukoil, one of Russia’s largest oil companies. His continued wealth and influence in the energy sector make him significant.
• Alexei Mordashov: The chairman of Severgroup, with significant holdings in steel, mining, and other industries. He consistently ranks among Russia’s wealthiest individuals.
• Leonid Mikhelson: Chairman of Novatek, a major natural gas producer. His prominence in the crucial energy sector places him among the influential.
• Gennady Timchenko: A businessman with close ties to Vladimir Putin since the early 1990s, with significant interests in energy trading and other sectors. His long-standing relationship with the President is a key factor in his influence.
• Alisher Usmanov: Has significant holdings in metals, mining, technology, and telecommunications. His diverse portfolio and past influence in media have made him a notable figure.
• Vladimir Potanin: A metals magnate with interests in mining and finance. He has remained a prominent figure in the Russian business elite for decades.
• Igor Sechin: While technically a state employee as the CEO of Rosneft (a state-controlled oil giant), his immense power within the energy sector and close relationship with Putin often place him in discussions about influential figures akin to oligarchs. He is sometimes referred to as a “silovarch” – an oligarch with strong ties to the security services.
• Arkady Rotenberg: A childhood friend and former judo partner of Vladimir Putin, with significant interests in construction, infrastructure, and other sectors that often benefit from state contracts. His close personal ties to the President are a major source of his influence.

Why This Topic Might Resonate with Concerns About the United States:

Your interest in this topic as something “we don’t want for the United States” highlights several key concerns:

• Wealth Inequality: The extreme concentration of wealth in the hands of a few individuals can lead to significant social and economic disparities.
• Influence of Money in Politics: When vast fortunes translate into disproportionate political influence, it can undermine the principles of democracy and equal representation. Policies might be shaped to benefit a select few rather than the broader public interest.
• Cronyism and Corruption: Close ties between wealthy business individuals and government officials can foster corruption, rent-seeking behavior, and unfair competition, hindering economic dynamism and fairness.
• State Capture: The risk that powerful private interests could come to control or unduly influence government institutions and decision-making processes.
• Erosion of Democratic Norms: The perception that a small elite holds significant sway can erode public trust in democratic institutions and processes.

While the United States has its own class of wealthy and influential individuals and corporations, the specific historical context of Russia’s post-Soviet privatization and the nature of the relationship between these individuals and the state under Putin have created a unique system of “oligarchy.” However, the underlying concerns about wealth inequality, political influence, and the potential for undue power by a select few are relevant to ongoing discussions about economic and political systems in the United States and other nations.

Understanding the dynamics of the Russian oligarch system can serve as a cautionary tale and prompt reflection on the safeguards and mechanisms necessary to prevent similar concentrations of unchecked power and influence in other countries. It encourages a focus on fair economic practices, transparent governance, and the importance of maintaining a level playing field where opportunity is not solely determined by wealth or political connections.