Acronyms that contain the term russian oligarch  Page #11

Russian oligarch

The Russian oligarchs (see the related term "New Russians") are business oligarchs of the former Soviet republics who rapidly accumulated wealth during the era of Russian privatization in the aftermath of the dissolution of the Soviet Union in the 1990s. The failing Soviet state left the ownership of state assets contested, which allowed for informal deals with former USSR officials (mostly in Russia and Ukraine) as a means to acquire state property. Historian Edward L. Keenan has drawn a comparison between the current Russian system of oligarchs and the system of powerful boyars which emerged in late-Medieval Muscovy.The Russian oligarchs are business entrepreneurs who emerged under Mikhail Gorbachev (General Secretary 1985–1991) during his period of market liberalization. The term oligarch derives from Greek, and translates approximately as "rule by the few".

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