Typos

How Putin 'Vanished' the Oligarchs

Published December 28, 2025, 16:18
How Putin 'Vanished' the Oligarchs

Vladimir Putin has managed to 'vanish' the political influence of Russian oligarchs during his 25 years in power. Despite Western sanctions and the war in Ukraine, the number of billionaires in Russia has reached a historic high, but they have become silent and fully controlled supporters of the Kremlin. Putin's strategy, involving a combination of 'carrot and stick,' has led the oligarchs to a state of silent support. A characteristic example is Oleg Tinkov, who was forced to sell his bank at a humiliating price after criticizing the war in Ukraine. In the past, the oligarchs had acquired vast state-owned enterprises after the dissolution of the Soviet Union and exerted significant political influence. However, Putin gradually limited their influence, turning them into economically powerful but politically powerless actors. After the start of the war in Ukraine, Putin gathered the wealthiest Russians in the Kremlin, where he pressured them to remain loyal to the regime. The oligarchs, knowing their limited options for reaction, agreed to cooperate with Putin.