The Kubera Principle

The Death Of The Russian Oligarchs

Kremlin's been caught by hysteria — Russian oligarchs scream and shout

The Death Of The Russian Oligarchs

NEW YORK ( — With his propaganda machine in full swing, Vladimir V. Putin had to swallow his traditional aversion to anything spontaneous, but the most significant rumours involved the oligarchs. Our contacts whispered that the oligarchs were in trouble, but nobody could say why. Russia is one of the least equal countries on earth. The oligarchs at the top own more wealth than the bottom 99.8. One account alleged that some oligarchs have been caught embezzling large amounts of money from bank accounts in the British Virgin Island. They were seized by FSB agents, the story had it. A singularly malicious rumour alleged that one oligarch had tried to commit suicide in Israel and—perhaps worse—had failed. Yet, at the time it was clear that the profusion of rumours testified to Russian oligarchs vulnerability. The U.S. was deeply concerned about the U.K.’s failure to financially sanction the oligarchs, but the U.K. is now playing a leading role in standing up to President Vladimir V. Putin in a way that would have been impossible without Brexit. This Rich TVX News Network bulletin is about one of the most dramatic periods in Russian history, as Russian oligarchs will be hit with tough new sanctions by the United Kingdom to deter Moscow from invading Ukraine, even if it hurts the UK economy, Liz Truss said. Russian oligarchs helping Vladimir Putin could be hit with asset freezes that could also include the seizure of London property. Despite the ongoing crisis, which stems from the protracted Russo-Ukrainian War that began in early 2014, President Vladimir V. Putin of Russia, retained the mystique of a compelling leader in the labyrinth of Kremlin power. The death of the Russian oligarchs marks the end of an era, but only the top members of the elite were at first aware of this moment of high drama. Brexit is a good example of not being bogged down with EU bureaucracy, the need for agreement with all the other EU nations.

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Russian Oligarchs Don’t Have Strong Nerves – They Panic

The Kremlin accused the American president Joe Biden of conducting a “campaign of hatred” against Russia in an effort to curtail relations and, as Russian State TV put it in an outburst of indignation, “hurl the world back to the dark ages of the Cold War.” The Biden administration held discussions with Wall Street’s biggest banks on possible sanctions against Russia. A great deal depends on Vladimir V. Putin, his instincts and inclinations, his temperament. All these troubles shook up the oligarchs, once kings of the world, but now just a miserable bunch. Gone are the days when the red carpet was rolled out in western financial centres. The bureaucracy, Russian oligarchs, the entire elite of Moscow, were divided—it seemed down the middle—on the issue of sanctions. The country had been anticipating it for some time. Even so, the end was unexpected when it came — it was a big shock. All major Russian oligarchs were present. Nobody could recall a similar consultation between Putin and the oligarchs. Putin’s tone was very aggressive, apparently in response to behind-the-scenes criticism by the oligarchs that his policy failed to provide adequate countermeasures to the sanctions of the West. We learned later that Putin himself had come to the conclusion that his hopes were illusory and that he was facing a major policy decision. Moreover, Vladimir V. Putin is the symbol of the state, using the mystique of his Kremlin office much as the Romanov tsars used it. There are people in the Kremlin, who want to crush the Ukrainians, but one might wonder how the Kremlin could have so misjudged the political, diplomatic, and propaganda struggle to be waged over the issue of the Russo-Ukrainian War. One source told us that one Kremlin insider, who advised Putin on American matters, quoted the leader as saying privately, “We are at a crossroads and we have to decide which way to go.”

Liz Truss

Elizabeth Mary Truss (born 26 July 1975) is a British politician who has served as Foreign Secretary since 2021 and Minister for Women and Equalities since 2019. A member of the Conservative Party, she has served in various cabinet positions under Prime Ministers David Cameron, Theresa May, and Boris Johnson. Truss attended Merton College, Oxford, where she was President of Oxford University Liberal Democrats. She graduated from the University of Oxford in 1996, and subsequently joined the Conservative Party. She worked in sales and as an economist, and was deputy director at the think-tank Reform, before becoming a member of parliament at the 2010 general election. As a backbencher Truss called for reform in a number of policy areas, including childcare, maths education, and the economy. She founded the Free Enterprise Group of Conservative MPs, and authored or co-authored a number of papers and books, including After the Coalition (2011) and Britannia Unchained (2012). Truss served as Parliamentary Under-Secretary of State for Childcare and Education from 2012 to 2014, before being appointed to the Cabinet by Prime Minister David Cameron as Secretary of State for the Environment, Food and Rural Affairs in the 2014 cabinet reshuffle. Though she was a prominent supporter of the unsuccessful Britain Stronger in Europe campaign for the UK to remain in the European Union in the 2016 referendum, she came to support Brexit after the result.After Cameron resigned in July 2016, she was appointed Secretary of State for Justice and Lord Chancellor by Theresa May, becoming the first female Lord Chancellor in the thousand-year history of the office (if not counting Eleanor of Provence in 1253). Following the 2017 general election, Truss was appointed Chief Secretary to the Treasury. After May resigned in 2019, Truss supported Boris Johnson’s successful bid to become Conservative leader; after Johnson was appointed Prime Minister, he appointed Truss as Secretary of State for International Trade and President of the Board of Trade, before appointing her as Foreign Secretary in 2021, replacing Dominic Raab. She is the first female Conservative Foreign Secretary and the second female Foreign Secretary, after Margaret Beckett. Truss was appointed as the UK government’s chief negotiator with the European Union and as the UK chair of the EU–UK Partnership Council on 19 December 2021, succeeding Lord Frost.