Ukrainian oligarchs and their businesses: their fading importance
Ukrainian oligarchs and their businesses: their fading importance

Author(s): Sławomir Matuszak
Subject(s): Business Economy / Management, Financial Markets, Accounting - Business Administration, Peace and Conflict Studies, Russian Aggression against Ukraine
Published by: OSW Ośrodek Studiów Wschodnich im. Marka Karpia
Keywords: Ukrainian oligarchs; War and economy; business during the war; financial performance;
Summary/Abstract: The longer Russia’s full-scale aggression against Ukraine continues, the weaker the oligarchs’ influence on the country’s political and economic life becomes. They have failed to regain control over media coverage and have little to no sway over parliament. Their businesses have suffered heavy losses as a result of the hostilities and the economic crisis. Consequently, the estimated wealth of many oligarchs has more than halved. In addition, the state has taken numerous steps aimed at representatives of big business, including the nationalization of some of their assets. This trend will persist as long as the active phase of the war continues. However, it is too early to say that the decline of the oligarchs is permanent.

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