Owing to Vladimir Putin’s war in Ukraine and the West’s response, hundreds of billions of dollars’ worth of assets are up for grabs in Russia. As ownership changes hands, the country’s shrinking wealth will become even more concentrated among the kleptocrats who have remained.
STOCKHOLM – Wars and sanctions usually lead to major redistributions of property through nationalization, confiscation, and often criminalization. Russia today is no exception. Largely underreported, a radical redistribution of property is underway in the country. Just as the Kremlin’s war of aggression in Ukraine is increasing President Vladimir Putin’s control of society, it is severely damaging economic efficiency, with international sanctions hitting energy, banking, armaments, and other core industries with increasing force.
STOCKHOLM – Wars and sanctions usually lead to major redistributions of property through nationalization, confiscation, and often criminalization. Russia today is no exception. Largely underreported, a radical redistribution of property is underway in the country. Just as the Kremlin’s war of aggression in Ukraine is increasing President Vladimir Putin’s control of society, it is severely damaging economic efficiency, with international sanctions hitting energy, banking, armaments, and other core industries with increasing force.