
If a newspaper has seen four of its journalists assassinated in 8 years for their investigative reporting about Russia’s power elite, would it launch a new series exploring the murky relationships between the Kremlin, big business and oil?
If it’s Novaya Gazeta, it’s a yes.
The latest article, called “Friends of the Premier”, charts Putin’s links to the Rotenberg brothers, Arkady and Boris. And what a story!
Arkady Rotenberg went from being Putin’s judo partner back in the old days. to a seemingly invincincible banker and entrepreneur:
In 2008, Rotenberg purchased a 10% share of Novorossiysk port, ‘labelled in the Spiegel as ‘one of the most criminal of the many ports in this huge country that are largely controlled by crooks’.
In the same year, reports Novaya Gazeta, the Russian state monopoly Gazprom sold Rotenberg 5 building companies, which through a series of holding companies were used in building infrastructure for Gazprom itself. The article goes into much more depth detailing the various murky transactions.It also delves into Rotenberg’s ties to a millionaire senator named Leonid Lebedev, as well as ties to several dodgy Americans.
In its incessant framing of Putin as an authoritarian bogeyman to Yeltin’s flawed capitalist reformer, the mainstream Western narrative often loses sight of the Kremlin’s coziness with capital. And it is money, not ideology and not even power that acts as its main raison d’etre.
This financial motivation, often overlooked in favour of more emotive narratives featuring nationalism or ideology, is the catalyst for repression in Russia. Unfortunately, ideas are not yet valued highly enough to kill for.
Within such a system, writes Lilia Shevtsova, “[Putin] appears to see himself as the ‘CEO of Russia’ and he and his colleagues view Russia as a business corporation.”
Adds Sean Guillory in his excellent analysis: “At the heart of every corporation is subordination, productivity, and management, management, and more management. Like a CEO, Putin’s power is rooted in the company’s shareholders, the Russian elite. Putin’s CEO mentality plus the elite’s propensity toward self-destruction makes their relationship symbiotic. Putin’s power is reliant on the elite as much as their power is reliant on Putin”.
Let’s set aside politics and morality and ask: Does Russia Inc. succeed on its own terms? The answer to this question alone will determine the system’s longevity.
In an article commemorating Putin’s 10 years at the helm, the Moscow Times’s Natalia Kraimova notes:
“A review of today’s top politicians reveals a motley group that appears to be held together by Putin’s will alone and would probably collapse if Medvedev’s and Putin’s paths ever diverged…Many officials appointed by Putin “occupy their posts exclusively by Putin’s grace and often to the detriment of professionalism,” said Alexei Mukhin, an analyst with the Center for Political Technologies”.
Based on this, is a board-room battle heading the CEO’s way?


