Part 6/14:
Putin’s system was a masterclass in power consolidation. Instead of outright arrests, the regime used tools like tax audits, asset seizures, and legal harassment to keep oligarchs in check. Major assets could be confiscated overnight if an oligarch dared to challenge the Kremlin’s authority. The message was clear: no one is untouchable.
The War and the New Era of Coercion
The invasion of Ukraine in February 2022 marked a turning point. Western sanctions were swift and severe, targeting Russia’s wealthy elites—freezing yachts, seizing bank accounts, and blocking properties across Europe and North America. Putin capitalized on this pressure, turning it into a loyalty test: wealth was to be used to support the war effort.