Russian oligarch | Wikipedia audio article
Channel: wikipedia tts
Date: 2018-11-29

This is an audio version of the Wikipedia Article:
Russian oligarch

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SUMMARY
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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 phenomenon of oligarchs and the system of powerful boyars which emerged in late-Medieval Muscovy.The first modern Russian  oligarchs emerged as  business-sector entrepreneurs under Mikhail Gorbachev ( General Secretary 1985–1991) during his period of market liberalization.  The term  "oligarch" derives from the Ancient Greek word ὀλιγάρχης (oligárkhēs), meaning literally "one of few rulers".