The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Two Putins juggle three Kremlin clans

Vladimir Putin has quickly crushed Russia's infamous oligarchs who once thrived under Boris Yeltsin, though the Family still holds some influence in Moscow. Alongside it, two new factions now share the ascendancy in the Kremlin. Sergei Ivanov leads the hardliners that Putin is using to tighten his grip on political power. German Gref leads the liberal economists charting Russia's economic reform. A clash between them may be coming.

Since president Vladimir Putin was confirmed in office last May, he has been scorned for being a dictator in the making and hailed as the most liberal and reform-minded politician Russia has had since its rebuilding began. Depending on where you stand, he will still fit both descriptions.


"There are two Putins: an economic one and a political one," says Roland Nash, senior political analyst with Russian investment bank Renaissance Capital.


Widely believed at first to be a creation of "the Family" - the group of well-connected businessmen and oligarchs close to the Kremlin during the Yeltsin era - Putin has made considerable progress in consolidating his personal hold on power.



Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to Euromoney.com and Asiamoney.com analysis and receive expertly-curated updates direct to your inbox.

 

Already a user?

Login now

 

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree