Semibankirschina
Encyclopedia
Semibankirschina was a group of seven Russia
n Business oligarch
s which played an important role in the political and economical life of Russia in late 1990s. In spite of internal conflicts, the group worked together in order to reelect President Boris Yeltsin
in 1996.
The oligarch and their companies are:
The word was coined by a Russian journalist Andrey Fadin from Obschaya Gazeta, who on November 14, 1996 published an article "Semibankirschina as a new russian variant of semiboyarschina
". The list of seven bankers was based on the Boris Berezovsky's interview to Financial Times
, in which he named 7 people together controlling more than 50% of Russian economics and influencing the most important internal political decisions of Russia.
Later these people, except maybe Fridman and Potanin, lost their influence. Khodorkovsky, Berezovsky and Gusinsky are now personae non gratae in Russia. Khodorkovsky lost his business as well as freedom in 2003, while Berezovsky and Gusinsky left Russia in 2000. Smolensky still own big company, but lost his political influence. Vinogradov died in 2008.
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
n Business oligarch
Business oligarch
Business oligarch is a near-synonym of the term "business magnate", borrowed by the English speaking and western media from post-Soviet parlance to describe the huge, fast-acquired wealth of some businessmen of the former Soviet republics during the privatization in Russia and other post-Soviet...
s which played an important role in the political and economical life of Russia in late 1990s. In spite of internal conflicts, the group worked together in order to reelect President Boris Yeltsin
Boris Yeltsin
Boris Nikolayevich Yeltsin was the first President of the Russian Federation, serving from 1991 to 1999.Originally a supporter of Mikhail Gorbachev, Yeltsin emerged under the perestroika reforms as one of Gorbachev's most powerful political opponents. On 29 May 1990 he was elected the chairman of...
in 1996.
The oligarch and their companies are:
- Boris Berezovsky – LogoVAZ
- Mikhail KhodorkovskyMikhail KhodorkovskyMikhail Borisovich Khodorkovsky is a Russian prisoner, considered by some - such as Amnesty International - to have been imprisoned for political reasons, jailed until 2016 and a former Russian oligarch and businessman...
– Bank MenatepBank MenatepBank Menatep was a US$29 billion holding company created by Mikhail Khodorkovsky, that had indirect controlling interest in Yukos Oil Company. It was involved in the US$4.8 billion diversion of International Monetary Fund funds.-Scandal:... - Mikhail FridmanMikhail FridmanMikhail Maratovich Fridman is a Jewish Russian businessman. Mr. Fridman graduated from Moscow Institute of Steel and Alloys in 1986. In 1988 Fridman started his career in trading and financial services before founding Alfa Group Consortium in 1989...
– Alfa GroupAlfa GroupAlfa Group Consortium is one of Russia's largest privately owned investment groups, with interests in oil and gas, commercial and investment banking, asset management, insurance, retail trade, telecommunications, water utilities and special situation investments... - Vladimir GusinskyVladimir GusinskyVladimir Aleksandrovich Gusinsky is a Russian media baron, is known as the founder of Media-Most holding that included Most Bank, the NTV channel, the newspaper Segodnya and magazines.-Life and career:Gusinsky was born in Moscow....
– Media-Most holding - Vladimir PotaninVladimir PotaninVladimir Olegovich Potanin is a Russian businessman and oligarch. His partner has been for many years Mikhail Prokhorov...
– UNEXIM Bank - Alexander SmolenskyAlexander SmolenskyAlexander Pavlovich Smolensky was the founder and president of one of the largest private banks in Russia - Bank Stolichny which collapsed in the 1998 Russian financial crisis wiping out its investors' savings. When asked what he owed his investors he replied: "dead donkey ears"...
– Bank Stolichny - Vladimir VinogradovVladimir VinogradovVladimir Viktorovich Vinogradov was the owner and president of Inkombank, one of the largest banks in 90s' Russia. Considered one of Russia′s oligarchs, he was ranked 12th in the list of the top 20 richest Russians in 1996...
– Inkombank
The word was coined by a Russian journalist Andrey Fadin from Obschaya Gazeta, who on November 14, 1996 published an article "Semibankirschina as a new russian variant of semiboyarschina
Seven Boyars
The Seven Boyars were a group of Russian nobles who deposed Tsar Vasily Shuisky on 17 July 1610 and, later that year, invited the Poles into Moscow....
". The list of seven bankers was based on the Boris Berezovsky's interview to Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
, in which he named 7 people together controlling more than 50% of Russian economics and influencing the most important internal political decisions of Russia.
Later these people, except maybe Fridman and Potanin, lost their influence. Khodorkovsky, Berezovsky and Gusinsky are now personae non gratae in Russia. Khodorkovsky lost his business as well as freedom in 2003, while Berezovsky and Gusinsky left Russia in 2000. Smolensky still own big company, but lost his political influence. Vinogradov died in 2008.