Politis

Putin 'Reined In' Russian Oligarchs and 'Rewarded' Those Who Supported the War

Published December 28, 2025, 16:15
Putin 'Reined In' Russian Oligarchs and 'Rewarded' Those Who Supported the War

According to the BBC, Vladimir Putin appears to have changed his tactics towards Russian oligarchs, curtailing their influence while rewarding those who cooperate with his regime during the war in Ukraine. Before the invasion, the oligarchs were considered powerful allies of Putin, but the number of Russian billionaires has fluctuated dramatically in recent years, resulting in a loss of their political power. Oleg Tinkov, a billionaire who criticized the war, experienced the consequences of non-compliance, as his bank was nationalized for almost nothing, causing him to lose $9 billion and be forced to leave Russia. This incident is a characteristic example of the 'carrot and stick' tactic used by Putin. The rise of the oligarchs is linked to the dissolution of the USSR and the privatization of state-owned enterprises. Boris Berezovsky, the most powerful oligarch in Russia, claimed to have helped Putin rise to power, but later became disillusioned with his policies. His death in mysterious circumstances in the United Kingdom is seen by many as the end of an era for Russian oligarchs. Overall, the BBC's analysis suggests that Putin has managed to limit the independence of the oligarchs and turn them into tools of his, while ensuring their economic survival in exchange for their political submission. This change in tactics has significant implications for the political and economic situation in Russia.