Word: oligarchize
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...Ever since then-President Vladimir Putin came to power a decade ago, the Kremlin has steadily reined in the coverage of the main television networks. In the 1990s, the channels tended to slant their coverage in favor of their oligarch owners, but they also produced incisive investigative reports previously unknown to a population raised on Soviet propaganda. The Kremlin has repeatedly denied dictating to the networks how major events should be covered, but Channel One, Rossia 1 and NTV almost never stray from the official line these days and often provide fawning coverage of Putin, now the Prime Minister...
...weeks earlier, near the center of Moscow in a stately pink building where he sometimes works and sleeps, Lebedev gave me a condensed history of the Russian state since the collapse of the Soviet Union in 1991 - the beginnings of post-Soviet capitalism, the rise of the oligarchs, the loans-for-shares scandal, his acquisition of National Reserve Bank, the rise of Putin, the fall of the oligarchs, his 28% stake in Aeroflot, the Khodorkovsky affair, the forthcoming launch of his restaurant in London, the end of democracy in Russia, Davos, and fellow oligarch (and Chelsea Football Club owner) Roman...
...Oligarchs and the State I ask Lebedev where the word oligarch comes from. "I think it was invented by Berezovsky somewhere in the '90s," he says dismissively, referring to Boris Berezovsky, the former oil and media magnate who prospered during Yelstin's rule but fled Russia facing accusations of fraud after Putin took charge. For most of that decade, between five and 10 businessmen (most notably Berezovsky, Mikhail Fridman, Mikhail Khodorkovsky, Vladimir Potanin and Vladimir Gusinsky) ruled Russia. Their power reached its height at Yeltsin's re-election as President in 1996 - the same oligarchs who financed Yeltsin's campaign...
Today, the word oligarch is bandied about in the media, but it is a misnomer. The oligarchy is no longer detached from, or in opposition to, the state. It is an extension of it. Many of the very rich people who once ran Russia still run it - but they have been brought to heel by a vastly more powerful Kremlin. Their wealth is "granted" to them by a Kremlin that demands loyalty and is prepared to use all means available to enforce it. They serve the Czar (or President, or Prime Minister) at his pleasure. They understand very well that...
Herein lies the reason for Lebedev's split personality. He is indeed an oligarch - the Russian magazine Finans reported that he was the 25th wealthiest person in the country in 2008, up from No. 46 in 2007. But he has never bent the knee to Putin. In Lebedev we find, if you like, the good oligarch - the Russian with whom Westerners can do business. He has made friends with prominent people in London (Elton John, Margaret Thatcher) and Hollywood (Kevin Spacey, John Malkovich), floating freely between boardrooms and state dinners. In March, Lebedev traveled to Washington with Gorbachev...