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...declarations by Yeltsin and Chubais signaled the start of a bitter and potentially crucial power struggle between the government's young Vice Premiers, Chubais and Boris Nemtsov, on the one hand, and several of the most powerful oligarchs on the other. While Yeltsin instructed both sides in what is now known as the bankers' war to cool it, the war has instead heated up. Last week came news that one of the warring oligarchs had been questioned by Interior Ministry investigators and that one of his Russian-American associates had had his Russian visa confiscated as he left Moscow...

Author: /time Magazine | Title: BATTLE OF THE BANKERS | 10/20/1997 | See Source »

When the Soviet Union collapsed in 1991, most people expected a burgeoning of political parties to fill the vacuum left by the communists. Parties did emerge, but in the tightly controlled presidential system that was hand-tailored for Yeltsin what counts is access--to the President, to his few closest aides and family members, and to half a dozen or so top government officials...

Author: /time Magazine | Title: BATTLE OF THE BANKERS | 10/20/1997 | See Source »

...bankers' war, with its attack articles and smears in various financier-controlled media, has taken its toll. It has deepened the impression, widespread in the West, that Yeltsin's Russia is in danger of becoming what U.S. researchers recently called a "criminal-syndicalist state" controlled by an alliance of corrupt politicians, businessmen and crime bosses. It has shattered the credibility of the media, which for a few brief years following the collapse of the Soviet Union had a reputation for independence and integrity. And it has damaged the standing of the young reformers, Chubais and Nemtsov. Alexander Oslon, who polls...

Author: /time Magazine | Title: BATTLE OF THE BANKERS | 10/20/1997 | See Source »

...would be easy to dismiss Rokhlin as a nut, if he didn't also happen to be chair of the Russian Parliament's defense committee. And on a day when the Duma threatened Yeltsin with a possible vote of no confidence, the general's speech comes as a reminder of just how deep the dissatisfaction goes -- especially in the military...

Author: /time Magazine | Title: Don't Start the Coup Without Me | 10/20/1997 | See Source »

MOSCOW: It's nice to have advance warning of attempted coups. And if you were Boris Yeltsin, you too would appreciate the amount of notice given by retired army general Lev Rokhlin when he said there would be a "rehearsal" on Feb. 23 -- a gathering of his pro-military political movement "to see whether enough force has been accumulated to throw the regime...

Author: /time Magazine | Title: Don't Start the Coup Without Me | 10/20/1997 | See Source »

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