Comrade Capitalism

Number 27316
Subject Wealth
Source Reuters
State
Year 2015
Publication Date Nov. 10, 2015; Dec. 17, 2015; Dec. 30, 2015
Summary In these investigations, Reuters revealed how Putin’s daughter secretly married the son of an old friend of the president; how Putin’s new son-in-law went on to acquire a stake worth $2.85 billion in Russia’s biggest petrochemical processor; how that stake was financed by a cheap loan from a bank run by associates of Putin; and how the petrochemical company is now benefiting from $1.75 billion in cheap state finance. While much has been written about other Russian billionaires, no one has previously succeeded in shedding so much light on the finances of the president’s family. Former KGB officer Putin has long claimed to be a man of modest means, a frugal figure atop the former communist country now plundered by crony capitalism. http://www.reuters.com/investigates/section/comrade-capitalism-2015/
Category IRE Contest Entry
Pages
Keywords Russia; Putin; communist; capitalist; president
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