Cronyism

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Understanding Russian Oligarchs: Their Origins and Influence

Definition of Russian Oligarchs Russian oligarchs are a group of wealthy businesspeople who emerged in Russia after the collapse of the Soviet Union in 1991. These individuals were able to acquire vast amounts of wealth and power through a combination of corruption, cronyism, and often questionable business practices. The term “oligarch” comes from the Greek word “oligos,” which means “few,”…