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Oligopoly

With Boris Beresovsky gone Putin is left with only loyal tycoons. The Russian president has turned the "Russia of the oligarchs" into a state oligarchy.

At the time of his self-chosen death Boris Berezovsky was what he probably detested most: an ex-oligarch. He had lost a super expensive court trial against his former partner Roman Abramovich last year in London. The internationally active business man Abramovich is worth 7.8 billion euros according to the 'Forbes' richest list 2013 *. Berezovsky on the other hand was broke. At the end he worried not to be able to feed his six children by three wives "sufficiently" any longer.

In the Nineties the mathematician and media tycoon controlled the Kremlin. When Yeltsin became a walking vodka bottle Berezovsky invented Vladimir Putin as his successor. But the grey intelligence officer turned against his master quickly and threw Berezovsky out of the country in 2000. From exile in London Bereseovsky continued his fierce fight against Putin. Unsuccessfully.

Putin has put not only him, but all oligarchs of the first generation in their place. Of the wealthy power brokers of the Nineties some are in exile or ended up in the Gulag like Mikhail Khodorkovsky. The former head of Yukos oil did not understand Putin's message ("Russian democracy, that’s me"), he was expropriated and pays now with a prison sentence which is extended at will. Other financial tycoons such as Michail Fridman (12.7 billion euros) are still close to the Kremlin circle, but stay out of political decisions.

Of the Putin loyal oligarchs, some slipped to the rear seats in the rich list of "Forbes" after the financial crisis took it’s toll. Oleg Deripaska, 2007 briefly the Ruble darling of Austria’s business elite with investments in Strabag and Magna, lost billions and stands at 6.7 billion euros. Almost twice as rich today is the - officially - richest Russian: Alisher Usmanov (13.5 billion euros). The Uzbekistan-born oligarch contolls metal company "Metalloinvest". As a "loyal" oligarch he is even allowed to buy Russian media outlets, including the daily newspaper "Kommersant" which formerly belonged to Berezovsky. When the magazine "Kommersant Vlast" reported fraud after the elections in December 2011, Usmanov immediately fired the editor.

Relatively new in the club of Ruble billionaires is Gennady Timchenko (10.8 billion euros) with oil company “Gunvor” and gas producer “Novatek”. Last year alone - according to "Forbes" - he earned five billion. Although he has often publicly denied it the oil industry has it that Timchenko’s close contacts to Putin has turned “Gunvor” into one of the most successful oil companies in the world. Timchenko’s business partner in “Novatek”, Leonid Michelson, is already racing to the top of the Russian richest list, he currently holds third place with 11.8 billion euros.

His closest friends are filthy rich. And he himself? Vladimir Putin officially earns 90,000 euros per year as president of the Russian Federation. His watch collection, however, is worth about seven times as much - according to opposition group "Solidarity". Russia today ranks 133rd place in the world wide corruption hit list of "Transparency International". It is an open secret that doing business in Russia is made with commissions for state officials.

Since taking office thirteen years ago Putin has rebuilt the Russia of the oligarchs into a state oligarchy. Together with his "grey cardinal”, former vice-prime minister Igor Sechin Putin planned the re-nationalization of Russia's oil and gas reserves, which fell into private hands during the hasty privatization twenty years ago. State oil company “Rosneft” swallowed first Khodorkovsky's “Yukos” in 2003. Currently “Rosneft” is digesting the aquisition of oil company TNK-BP. “Rosneft” has become the largest oil producing company in Russia and in the world. And who is today chairman of “Rosneft”? Igor Sechin.

The days when Boris Berezovsky ruled Russia are long gone.

* All numbers: "Forbes"

Alisher Usmanov is not only the richest man of Russia:

http://www.bbc.co.uk/news/uk-22233389