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Oligarchs as Nation's Saviors? Berezovsky Justifies Himself

Published: October 20, 2000 (Issue # 613)


A GROUP of House Republicans in the United States has assailed the Clinton administration for supporting Russia's former president, Boris Yeltsin, whom they accuse of fostering corruption and allowing undue influence to big business during his time in office. Similar views are expressed by some reviewers of Yeltsin's memoirs, just published.

Unfortunately, these people neglect the context of Russian history. As a participant in a major business privatization deal of that period - for which I have been labeled an "oligarch" - I would like to put what happened in Russia in historical perspective.

When the Bolsheviks abolished private property in 1917, they put all expropriated wealth under the management of two organizations that were to become pillars of Soviet totalitarianism: the Communist Party and the secret police (eventually known as the KGB). To accomplish this end, the new managers physically eliminated the previous owners - tens of millions of them.

Three-quarters of a century later, in just a few years, Yeltsin carried out the reverse of the Bolshevik Revolution - and he did so bloodlessly and efficiently. By 1998, 75 percent of the property had been transferred to private hands.

Critics say that privatization was unfair - that the "oligarchs" got major assets for a fraction of their real value. To put this claim in context, I recall the events of the pivotal year 1996, which began with Communists having a majority in the State Duma and Yeltsin's popularity slipping below 3 percent while that of his Communist rival, Gennady Zyuganov, rose to nearly 30 percent.

It was at that time that Yeltsin and Anatoly Chubais decided to sell off a great many state assets quickly so that it would be difficult for the Communists to renationalize private property after Zyuganov's expected victory in the race for president. This was the background for my decision to bid for the oil company Sibneft.

For the auction, my partners and I needed at least $100 million but had only $60 million on hand. So we invited foreign investors - in the United States, Western Europe and Japan - to participate in our bid. No one gave us a penny, and George Soros, who always understood Russia better than others, told me: "The risk is too high. The Communists will take everything back. Russia is slipping into a black hole, Boris. Don't be a fool, take your family and get out, before it's too late."

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ALL ABOUT TOWN

Friday, Oct. 31


Put your grammar and logical thinking to the test in a fun and friendly environment during the British Book Centers Board Game Evening starting at 5 p.m. today. The event is free and all are welcome to attend.



Saturday, Nov. 1


The men and women who dedicate their lives to fitness get their chance to compete for the title of best body in Russia at todays Grand Prix Fitness House PRO, the nations premier bodybuilding competition. Not only will men and women be competing for thousands of dollars in prizes and a trip to represent their nation at Mr. Olympia but sporting goods and nutritional supplements will also be available for sale. Learn more about the culture of the Indian subcontinent during Diwali, the annual festival of lights that will be celebrated in St. Petersburg this weekend at the Culture Palace on Tambovskaya Ul. For 100 rubles ($2.40), festival-goers listen to Indian music, try on traditional Indian outfits and sample dishes highlighting the culinary diversity of the billion-plus people in the South Asian superpower.



Sunday, Nov. 2


Check out the latest video and interactive games at the Gaming Festival at the Mayakovsky Library ending today. Meet with the developers of the popular and learn more about their work, or learn how to play one of their creations with the opportunity to ask the creators themselves about the exact rules.



Monday, Nov. 3


Non-athletes can get feed their need for competition without breaking a sweat at the Rock-Paper-Scissors tournament this evening at the Cube Bar at Lomonosova 1. Referees will judge the validity of each matchup award points to winners while the citys elite fight for the chance to be called the best of the best. Those hoping to play must arrange a team beforehand and pay 200 rubles ($4.80) to enter.



Tuesday, Nov. 4


Attend the premiere of Canadian director Xavier Dolans latest film Mommy at the Avrora theater this evening. The fifth picture from the 25-year-old, it is the story of an unruly teenager but the most alluring (or unappealing) aspect is the way the film was shot: in a 1:1 format that is more reminiscent of Instagram videos than cinematic art. Tickets cost 400 rubles ($9.60) and snacks and drinks will be available.



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