"Rosneft's chairman is Putin's powerful deputy chief of staff, Igor Sechin. From the Kremlin, he is reported to have masterminded the attack on Yukos's leadership--from which Rosneft benefited handsomely. Sechin leads the siloviki faction in the Kremlin composed of former military and secret police officers. According to the Financial Times, Rosneft is viewed in Russia as "the oil company of the Siloviki," of which Putin and the other leading candidate to replace him as president, second deputy prime minister Sergei Ivanov, are themselves members.
"Medvedev and Sechin, both senior government officials at the head of Russian energy giants, are among Russia's "new oligarchs." In a systematic, Kremlin-directed reversal of the rushed privatizations of the 1990s that coincided with Putin's rise to power, the Russian state has coopted or destroyed the independent tycoons of the 1990s who controlled Russia's vast natural resource base--and who represented centers of financial and political power beyond Kremlin control--and replaced them with its own loyal servants. According to the Russian newspaper Nezavisimaya Gazeta and the Christian Science Monitor, seven people from President Putin's inner circle now control nine state companies with total assets equal to 40 percent of Russia's GDP."
Read more at Weekly Standard online.
Comments
I read the entire article in the link. Quite an in-depth analysis. It truly is a huge concentration of power with worldwide ramifications. While useful in protecting its geopolitical boundaries and interests, especially against China, it is dangerous and exploitive. And sadly, the lives of the common citizens of Russia continue to be economically dismal and full of suffering despite great wealth in the country.
As I consider the US reliance on foreign energy sources, it is disturbing to think of future conflicts that may evolve with Russia. Energy will be a huge tool or weapon for diplomacy.
Posted by: Tanya | January 9, 2006 12:44 PM
It is my observation that between Russia and Canada there are a lot of oil and gas reserves. Possibily more than what is available in the Middle East.
Posted by: Raj Chanani | August 30, 2006 2:08 PM
What is the current Money Supply of Russia? (e.g. M1, M2, M3)
What is the rate of Money Supply growth in Russia?
I have tried to make heads or tails or what is availble on the Centeral Bank of Russia's website.
Posted by: Anonmyous | October 18, 2006 1:49 PM
I have found Russian people to be generally happy and healthy. The language itself seems strange to me. I tried learning basic grammer in Russian but made little headway.
Posted by: Boy | February 2, 2007 4:58 PM
Money Supply
-------------
Russia 9 Trillion, 30% yearly growth
United States 7 Trillion, 8% yearly growth
Euro Area 8 Trillion, 9% yearly growth
India 35 Trillion, 20% yearly growth
China 25 Trillion, 20% yearly growth
Posted by: Banker | March 13, 2007 10:40 AM