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“The only business in Russia is politics,” said Russian oligarch Mikhail Khodorkovsky. When he made this comment two years ago, it was true. But the devaluation of the rouble on August 17 1998 destroyed the so-called Russian oligarchs and broke their hold on power. Average incomes have tumbled, life expectancy has begun to fall again and hundreds of small and medium enterprises have been killed off. With a depressed economy, those in power scrambled to grab what little money was available. |
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