Russian Oligarchs Powerless to Stop Putin

“As Russia’s tanks rolled into Ukraine last week, Vladimir Putin gathered the country’s top businessmen in the Kremlin’s ornate Hall of the Order of St Catherine to discuss their response to the economic shocks that would follow,” the Financial Times reports.

“The Russian president, seated about 20 feet away in a conspicuous social-distancing measure, told them he had ‘no other choice’ but to invade Ukraine — and, if they wanted to keep their businesses, neither did they.”

“But the power dynamic of the meeting made for a much starker message to the assembled billionaires. He warned that anyone who avoided doing business with companies sanctioned by the west would face punishment under the law — implying that the oligarchs had to make a stand — while also stating that Russia would help companies hit by western sanctions.”