Putin’s government arrested Vladimir Gusinsky, owner of Media-Most and Russia’s largest independent television network, on alleged fraud charges. The arrest was widely seen as a politically motivated attempt to silence critical media, marking an early example of Putin’s systematic …
Boris Yeltsin resigned as President of Russia on December 31, 1999, elevating Prime Minister Vladimir Putin to Acting President six months before scheduled elections. The succession had been carefully engineered by Yeltsin’s oligarchic allies, known as ’the family,’ who began …
Boris Yeltsin won re-election as President of Russia in a stunning comeback victory engineered and bankrolled by a coalition of seven oligarchs who became known as the ‘Semibankirshchina’ (seven-banker outfit). Despite approval ratings below 10% earlier in the year, Yeltsin defeated …
The Russian government under President Boris Yeltsin implemented the ’loans-for-shares’ privatization scheme between November and December 1995, auctioning twelve of Russia’s most profitable industrial enterprises—including mining, steel, shipping, and oil companies—to a small …
The International Monetary Fund approved a $6.8 billion loan to Russia, the second largest loan the IMF had made at the time, following years of failed stabilization efforts and broken conditionality requirements. This was followed by an agreement in 1996 to provide a total of $10.2 billion over …
Russia launched the world’s largest privatization program, distributing vouchers worth 10,000 rubles each to approximately 148 million citizens, enabling the privatization of over 15,000 medium and large enterprises. The program was designed and implemented by Anatoly Chubais, chairman of the …