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| Semibankirshchina | |
| Russian | семибанкирщина |
|---|---|
| Romanization | semibankirshchina |
| IPA | [sʲɪmʲɪbɐnˈkʲirɕːɪnə] |
| Literal meaning | rule of seven bankers |
TheSeven Bankers (Russian:семибанкирщина,romanized: semibankirshchina) were a group of powerfulRussian oligarchs who played an important role in the political and economic spheres of the Russian Federation between 1996 and 2000. In spite of their internal conflicts, members of the group worked together in order to re-electBoris Yeltsin in the1996 Russian presidential election, and thereafter to successfully manipulate him and his political environment from behind the scenes.
Initially, the clique of seven businessmen were identified by oligarchBoris Berezovsky in an October 1996 interview. In an article published on 14 November 1996, journalistAndrei Fadin [ru] coined the termsemibankirshchina as a takeoff on theSeven Boyars who deposedTsarVasili Shuisky in 1610 during theTime of Troubles. Later, other persons were included in the list, but the catchy term remained.
Russian oligarchBoris Berezovsky, in a 29 October 1996 interview in theFinancial Times, named seven Russian bankers and businessmen from six businesses that he claimed controlled about 50% of theeconomy of Russia and most of themass media in Russia,[1][2][3][4] and had helped bankrollBoris Yeltsin'sre-election campaign in 1996.[5][6][3][4][7]
The wordsemibankirshchina was subsequently coined by the Russian journalist Andrei Fadin of theObshchaya Gazeta newspaper, in a 14 November 1996 article titled "Semibankirshchina as a New Russian Variation of Semiboyarshchina".[8] He wrote that "they control the access to budget money and basically all investment opportunities inside the country. They own the gigantic information resource of the major TV channels. They form the President's opinion. Those who didn't want to walk along them were either strangled or left the circle." Slightly over a year later, Fadin was killed in a car accident.[9]Aleksandr Solzhenitsyn also used this word in his critical 1998 essayRussia Under Avalanche to describe the current political regime and to warn people of what he considered an organized crime syndicate that controlled the President and 70% of all Russian money.[10]
Berezovsky named the following seven persons: Stolichny Bank head Alexander Smolensky; Mikhail Khodorkovsky, president of the Menatep financial and oil empire; Petr Aven and Mikhail Fridman, ofAlfa-Bank; Vladimir Gusinsky, head of the Most banking and media group; Vladimir Potanin, former head of ONEXIM Bank and then–first deputy prime minister in charge of the economy; and Berezovsky himself.[2]
In some lists some other people were included, and eventually the clique was recognized to consist of:
Petr Aven, who was close to Berezovsky, describes appearance of the wordsemibankirshchina in his bookThe Age of Berezovsky as follows: "He [Berezovsky] didn't use this word, but he gave an interview to theFinancial Times in which he said that seven businessmen were de facto ruling the country. He named a fairly random list — whomever he could recall at the time. I was listed together with Fridman; there was one representative of each group there."[14]
It is generally considered that the group was created in March 1996 when the political consultantSergey Kurginyan invited a group of thirteen Russian oligarchs to sign the so-called "Letter of Thirteen" (headlined as "Come Out of the Dead End!") in an attempt to cancel the1996 Russian presidential election.[15][16] The manifest was published inNezavisimaya Gazeta and suggested that two major candidates—Boris Yeltsin and theCommunist leaderGennady Zyuganov—should strike a "political compromise" in order to prevent "the economical collapse". It contained eight tips that described the position of business elites. The letter was called "a provocation" by the Communists and thus ignored.
After the plan failed, half of those oligarchs formed what became known as the Seven Bankers—a group of seven business moguls, ironically named after the 17th-centurySeven Boyars, who owned the majority of Russian media resources and who decided to promote Boris Yeltsin every way possible. Since Yeltsin was highly unpopular by that time, with only 3–8% support, a complex technology ofcrowd manipulation was developed byGleb Pavlovsky andMarat Gelman's think tank Foundation for Effective Politics,[17] with the involvement of American specialists (the latter fact was used as a basis for the comedy filmSpinning Boris released in 2003).
Known as an extremely "dirty" election campaign both inside and outside of Russia,[18] it was discussed in detail in Gleb Pavlovsky's reportPresident in 1996: Scenarios and Technologies of the Victory published shortly after. AsNezavisimaya Gazeta summarized it, "the formula of victory: attracting the expert resources + dominating in the information field + blocking the competitor's moves + dominating in mass media + dominating in elites".[17] The main analyst of the NTV TV channel Vsevolod Vilchek also admitted that they actively applied technologies of mass manipulation.[19] Both the third president of Russia,Dmitry Medvedev, and the former president of the Soviet Union,Mikhail Gorbachev, have since claimed that Yeltsin's victory was hoaxed.[20][21]
Following the election, the Seven Bankers became the main power behind Russian politics and economy.[1] Between 1996 and 2000, they gained control over the most valuable state enterprises in the natural resource and metal sectors and unofficially manipulated Yeltsin and his decisions.[22][16] According to Boris Berezovsky, they acted throughAnatoly Chubais—an architect ofprivatization in Russia and Yeltsin's right-hand man who granted access to him at any time.[2]
All this resulted in further impoverishment of the population, criminalization of businesses and the1998 Russian financial crisis.[13][unreliable source?] This was also the time when the wordoligarch grew in popularity, substituting theNew Russiannouveau riche term (both with extremely negative subtext). The 1999 saw the sudden rise to power of the unknownFSB officerVladimir Putin. Boris Berezovsky and his associates claimed that it was him who single-handedly promoted Putin and insisted on his candidature as Prime Minister and President.[23][24]
Yet the following years saw a quick demise of most of the Seven Bankers and the rise of the new generation of "manageable" Russian oligarchy. Khodorkovsky, Berezovsky and Gusinsky turned intopersonae non gratae in Russia. Berezovsky and Gusinsky left Russia in 2000, while Khodorkovsky lost his business as well as freedom in 2003 and was exiled in 2013. Vinogradov died in 2008. On 23 March 2013, Berezovsky was found dead at his home, Titness Park, atSunninghill, nearAscot in Berkshire.[25] Smolensky still owned significant companies till 2019, but lost his political influence. He died in 2024.
